Processing Magazine

Afren’s Wells Target 900 Million Barrels of Oil in East Africa

January 13, 2011

Bloomberg reports that Afren Plc, a U.K. oil and gas explorer focused on Africa, said it’s targeting about 900 million barrels of oil and gas resources with its drilling campaign in the east of the continent. Afren plans to drill wells in Kenya, Madagascar, Seychelles and Ethiopia to expand its resource base in Africa. Explorers have been attracted by Anadark Petroleum Corp.’s deepwater finds in Mozambique, which have been followed by two discoveries by BG Group Plc in Tanzania. East Africa holds more than 31 billion barrels of oil, according to London-based Afren, three times as much as Brazil’s Lula field, formerly known as Tupi, the biggest discovery in the Americas in 30 years.