Afren to buy African drilling rights

Oil and gas producer Afren is to increase its offering with the acquisition of Devon Energy’s offshore drilling rights, representing 95 per cent of its interest in Ghana and 15 per cent in Angola, for an undisclosed sum.


Oil and gas producer Afren is to increase its offering with the acquisition of Devon Energy’s offshore drilling rights, representing 95 per cent of its interest in Ghana and 15 per cent in Angola, for an undisclosed sum.

Oil and gas producer Afren is to increase its offering with the acquisition of Devon Energy’s offshore drilling rights, representing 95 per cent of its interest in Ghana and 15 per cent in Angola, for an undisclosed sum.

The acquisition is subject to government approval and with respect to the Angolan interest – an offshore area named ‘Block 16’ comprising nine oil wells – from energy firm Sonangol that currently holds preferential rights to oil resources.

The Keta Block area in Ghana is also an offshore interest. It is located in the east of the country in the Volta River Basin and covers 5,500 sq k.

Marc Barber

Raven Connelly

Marc was editor of GrowthBusiness from 2006 to 2010. He specialised in writing about entrepreneurs, private equity and venture capital, mid-market M&A, small caps and high-growth businesses.

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