Afren plc was founded in late 2004 with the vision to become the premier pan-African independent exploration and production
company, through a differentiated strategy based on a strong African representation in the Board and management, partnering with indigenous companies, partnering with National Oil Companies and Governments as well as finding a solution to the vast untapped gas resources in the Gulf of Guinea.
Afren has consistently delivered on its differentiated strategy; since the Initial Public Offering in March 2005, Afren has rapidly expanded its portfolio to sixteen assets across seven countries: Nigeria, São Tomé & Príncipe JDZ, Gabon, Congo Brazzaville, Côte d’Ivoire, Angola and Ghana. Having recently achieved the First Oil milestone at the Okoro Setu development in June 2008 and completed the acquisition of Devon Energy’s assets in Côte d’Ivoire in September 2008, the Group is expecting to produce over 20,000 barrels of oil equivalent per day by the end of 2008 from its current portfolio.