Afren set to pounce on exit of oil majors from Nigeria

•Identifies over 100 fields with 200million barrels Afren, the oil explorer focused on West Africa, reported the first full-year profit in its history and is preparing to snap up more Nigerian oil fields from international operators who are retreating from the country. Osman Shahenshah, chief executive, said Afren could make further Nigerian acquisitions in the first half of this year as it seeks to take advantage of majors such as Shell and Exxon scaling down operations in the country. Last ...
Read the rest of the story on Businessday Nigeria

Added March 30, 2010
from Businessday Nigeria