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Excel, Afren to to share cost of Eremor

Published Jul 18, 2007

Nigeria map

Africa-focused explorer Afren has farmed into Excel Exploration & Production Ltd.’s Eremor field development in Nigeria, where officials have given their go-ahead for development.

Phase 1, to be financed by Afren, includes a well completion and the building of a seven-kilometre pipeline to a flow station. With expenses recovered by field revenues, Excel will equally share production revenue and costs.

Eremor is an undeveloped oil field in the shallow-water OML 46 license offshore Nigeria. Shell struck through the field’s hydrocarbons in five zones back n 1978, but Excel was to acquire it under a “fallow” field program.

Seismic points to 40 million barrels of oil in two reservoirs that lie within 12 kilometres of producing cluster of Shell oilfields.

Analysis suggests 22 degree API crude and possible flow rates of up to 2,000 barrels of oil per day.

 

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