Nigeria-focused oil explorer Afren says it has set sights on double-digit production growth over the next five years – as it prepares to move forward with appraisal on the giant Ogo discovery.
The 774million barrel, one of the largest finds in 2013, is due to progress this year with 3D seismic scans and exploration drilling scheduled.
The figures come as the company predicted a gross production increase for 2014 of 62,000 barrels per day – but a fall of net production for the year.
Net output is expected to fall to 40,000 boed, down from the 47,112 last year, due to extension work shutting down the Ebok field.
Development work on the Okoro, Okwok and Ebok fields, however, would see double digit production growth over the next five years, the company said.