The company said that it has signed these contracts as part of its strategy to aggregate and commercialize stranded gas assets in Nigeria.
The licenses are located in the Anambra Basin with estimated remaining gas resources in excess of five trillion cubic feet of gas, yet the basin remains largely unexplored with only 30 wells drilled to date leading to six discoveries, the company said.
Osman Shahenshah, CEO of Afren, said: The announcement closely follows the co-operation agreement recently signed with E.ON Ruhrgas and African LNG to jointly investigate, develop, collect and monetize gas for domestic and export purposes. We are pleased to have also strengthened our relationship with Global Energy Company, marking our fifth indigenous partnership in Nigeria to date.
