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Afren and Amni Sign Financing and Production Sharing Agreement

1st June, 2006

hexgear

In June 2006, Afren signed a Financing and Production Sharing and Technical Services Agreement with Amni for participation in the development of Okoro and Setu. Under the terms of the agreement, Afren will finance the development and appraisal programme. Afren will recover these costs with an uplift on its capital, from over 90 per cent of the barrels produced, net of operating costs and royalties. Following cost recovery, Afren and Amni will share the production equally.

Asset: Okoro Source: http://oilinvestor.informe.com...

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