Afren approached to sell African oil stakes

Image source: Afren Plc.Image source: Afren Plc.UK oil and gas company, Afren Plc, has announced that it has been approached to sell stakes in its assets in Africa

“We’ve had a number of discussions about farming in to acreage, partnerships and joint ventures,” CEO, Osman Shahenshah, told Bloomberg.
“We have high equity positions in most of our acreage, and that gives us a lot of options.”
Afren has interests in Nigeria, Côte d'Ivoire and exploration plans in place in Ethiopia, Kenya, Madagascar and Tanzania.
Shahenshah has forecasted in March this year that oil companies would be seeking to acquire more fields in the region following the first discovery of onshore crude oil in Kenya.
The CEO said that he has no plans to sell London-based Afren.

 

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