Afren provides response to AMNI’s allegations regarding Okoro field

Afren plc (“Afren” or the “Company”) (LSE: AFR) notes the press reports regarding the purported termination by AMNI Petroleum Development Company (“AMNI”) of the Production Sharing and Technical Services Agreement between AMNI, the Company and Afren Energy Resources Limited in respect of the Okoro field (the “PSTSA”). As announced on 13 March 2015, Afren has […]

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AGF refutes allegations of shady deals in Addax suit against FG

The Attorney General of the Federation and Minister for Justice, Mohammed Bello Adoke (SAN), has absolved himself from the allegation that his office wanted to compromise a suit filed by Addax Petroleum Development (Nigeria) Limited and Addax Petroleum Exploration (Nigeria) Limited against the Nigerian National Petroleum Corporation (NNPC), Ministry of Petroleum Resources (MPR), Department of […]

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Deepwater expenditure to increase to $210bn – Douglas Westwood

Despite imminent project delays, 2015-2019 deepwater expenditure is expected to increase by 69%, compared to the preceding five-year period, totaling a figure of $210 billion (bn). This is the headline finding from Douglas-Westwood’s (DW) World Deepwater Market Forecast 2015-2019. Report author, Mark Adeosun, commented, “As production from mature basins onshore and in shallow water declines, […]

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