Afren PLC

Printable company profile from OilVoice


Afren is an independent oil and gas exploration and production company listed on the Main Board of the London Stock Exchange.

Focused on Africa – Afren has operations in several African countries encompassing the full-cycle E&P value chain of production, development, appraisal and exploration. Today, Africa is the fastest-growing source of natural resources and a major supplier to the world’s leading markets.

Afren holds a unique position on this continent and not only has close relationships with indigenous companies and suppliers – but also a strong African representation on the Board and management teams. Afren firmly adheres to a strong ethical policy that channels significant resources back into local economies.

Latest Afren PLC News

Chairman and non-executive directors of Afren resign
Afren Plc announces a number of changes to its Board of Directors. Mr Egbert Imomoh, Chairman of the Board of Directors, and each of the non-executive directors, being Mr Toby Hayward, Mr Patrick Oba
Thursday, June 25, 2015

Oil price, Plexus, Sound, Hurricane, Sundry-Williams-Tullow-Afren-IOG- And finally...
  • WTI $59.61 -84c, Brent $63.02 -$1.24, Diff $3.41 -40c, NG $2.82 +4c
Monday, June 22, 2015

Afren announces resignation of Executive Director and appointment of Chief Operating Officer
  • Mr. Darra Comyn has given notice of his resignation as Group Finance Director of Afren.
  • David Thomas has been appointed to the position of Chief Operating Officer of Afren with effect from 8th June 2015.
Monday, June 15, 2015

Oil price, Primeline, Northern, Sundry-Soco-Afren-Thalassa-Weir- And finally...
  • WTI $60.14 +$2.00, Brent $64.88 +$2.19, Diff $4.74 +19c, NG $2.85 +14c
Wednesday, June 10, 2015

Oil price, Afren, Rose Petroleum, Sundry-Sefton-Falcon-Premier-Serica/Circle-IGTV Shell-Genel-Sound- And finally...
  • WTI $57.68 +17c, Brent $62.58 +52c, Diff $4.90 +35c, NG $2.71 -14c
Friday, May 29, 2015

Two non-executive directors resign from Afren
Afren plc announces that Mr Peter Bingham and Mr John St John will resign as Non-Executive Directors of Afren with effect from the close of the Company's 2015 Annual General Meeting scheduled for Wedn
Monday, May 18, 2015

Oil price, Sundry-BP, Shell, Afren-Premier-RKH-Ithaca-Europa-Cairn-Cape-Wood-EnQuest-Caza-IOG-Panoro-President-Range- And finally...
Oil price It has been a busy fortnight, almost entirely away from my desk but all the time visiting companies and seeing their operations. Today is really a summing up blog as I try to cover as much
Friday, May 15, 2015

Oil price, Kosmos, Chariot, Sound, Sundry-Bowleven-Afren- And finally...
  • WTI $58.93 -22c, Brent $66.45 -1c, Diff $7.52 +21c, NG $2.82 +5c
Tuesday, May 5, 2015

Afren releases 2014 full year results
The Board of Afren plc announces its results for the year ended 31 December 2014 Net production excluding Barda Rash of 31,819 bopd, slightly below the full year guidance range of between 32,000-36,00
Friday, May 1, 2015

Afren disputes AMNI's allegations regarding the Okoro field
  • Afren 'vigorously disputes' that AMNI is entitled to terminate the PSTSA for the alleged breaches.
Wednesday, April 8, 2015

Afren PLC Who's Who

Osman Shahenshah
Chief Executive
Mr Shahenshah has sixteen years of experience in private equity, project and structured finance, capital markets and developing public and private sector projects worldwide in the energy, infrastructure, telecommunications and process industries, with a primary focus on oil and gas.

His international career has included senior positions in the oil and gas finance groups of the International Finance Corporation (private sector arm of the World Bank) and Dresdner Kleinwort Wasserstein, in the investment banking group of the Italian institution Mediocredito Centrale, and at Taylor-DeJongh, an independent oil and gas financial advisory firm.

Mr Shahenshah has been actively involved in the African oil and gas sector for more than 15 years, advising companies such as Shell, Chevron, Total, ENI and the Nigerian National Petroleum Corporation. He holds a PhD from the University of Pennsylvania, a Master''s Degree from Columbia University and a Bachelor''s Degree from Brown University.

Egbert Imomoh
Non-Executive Chairman
Mr Imomoh has had thirty-six years'' experience with the Shell group of companies, in Nigeria, the UK and the Netherlands. Recently, Mr Imomoh served as Deputy Managing Director of Shell Petroleum Development Company (Nigeria) (''SPDC''), one of the Shell group''s largest operating companies, which is responsible for operating a joint venture that produces approximately 1 million barrels of oil per day.

Trained in Mechanical and Petroleum Engineering, Mr Imomoh held a wide variety of senior positions throughout the Shell group from Chief Petroleum Engineer in SPDC to Technical and Planning Manager to Deputy MD of SPDC. He is member of the Society of Petroleum Engineers and has served on the SPE board as regional Director for Africa.

Peter Bingham
Non-Executive Director
Mr Bingham is a senior financial executive with over forty years experience in international financial markets, primarily at the Barclays Bank Group. Mr Bingham successively held directorships at the London branch level, in the Group''s merchant banking division, and at BZW (now Barclays Capital) where he set up the credit risk management team. Mr Bingham ultimately became Head of Banking at BZW and served as a member of the central Barclays Group Credit Committee.

Mr Bingham is accomplished in the development and oversight of financial strategies for growing companies such as Afren, and is well-known in the London capital markets. His support and guidance will be invaluable as Afren implements its asset acquisition programme.

Bert Cooper
Founder and Advisor to the Board
Mr Cooper, a Liberian national, has been active in the African natural resources sector for over 25 years. During the 1980s he devised and led an initiative to restructure what, at the time, was Liberia''s biggest industrial project - an iron ore mining company with capital investment of over US$600 million. At one time the company in question was Africa''s largest stand-alone producer of iron ore.

Mr Cooper implemented the sequential and structured buyouts of Bethlehem Steel Corporation''s and Granges International Mining''s (an affiliate of AB Electrolux) interests in the project and, in the process, formed Liberia''s mining parastatal, LIMINCO. Prior to the outbreak of civil war in Liberia LIMINCO''s management, marketing and financing needs were contracted to Mr Cooper''s companies.

With a keen interest in oil and gas over the years, and with past and present involvement in the marketing of petroleum products, Mr Cooper was a principal member of the team that founded Afren and continues in a formal capacity as Advisor to the Board.

Constantine Ogunbiyi
Associate Director Afren plc - Special Assistant to the Chairman & Director, Afren Nigeria
Mr. Ogunbiyi, a Nigerian national, was involved in the establishment of Afren in late 2004 and serves as Associate Director & Special Assistant to the Chairman, General Counsel of the Group and Director of Afren''s Nigerian subsidiaries. In his role as Special Assistant to the Chairman, he works closely with the Chairman in a support capacity. He has over 10 years experience of private equity, acquisition, structured, trade and project finance, and public and private partnerships in the African energy and infrastructure sectors in particular.

Prior to joining Afren, he was the Deputy Head of Cadwalader, Wickersham & Taft LLP''s Africa Practice. Before this, Mr. Ogunbiyi spent four and a half years as an Associate in Herbert Smith''s International Finance and Banking Department. He has also served as a strategic adviser to the New Partnership for Africa''s Development (NEPAD) Business Group and the Southern African Development Community''s (SADC) Banking Association''s PPP Unit. He has worked on several African oil and gas transactions involving NOC''s and IOC''s.

He holds an LLB with German Law from King''s College, University of London, a Diploma in German Public and Civil Law from the University of Passau (Germany) and has Legal Practising Qualifications from the Oxford Institute of Legal Practice.

John St. John
Strategic Financial Advisor
John St. John is one of the best-known names in European Equity Capital Markets and was formerly Global Head of Equity Capital Markets at Dresdner Kleinwort Wasserstein, Salomon Brothers, Lehman Brothers and Commerzbank.

He has been advisor on over €100 billion of equity and equity-linked issuance in all major markets worldwide. He currently serves as Chairman of Equity Capital Markets at Nomura International plc.

Brian Ward
Member of International Advisory Board
Brian Ward was formerly the Regional Chief Executive for Shell E&P Africa. Mr Ward was responsible for Shell''s Upstream African operations and relationships with Host Governments.

Prior to managing Shell''s operations in Africa, Mr Ward''s career included a number of senior positions within the Shell organization, including Managing Director of Petroleum Development Oman, Managing Director of Shell E&P (NAM) in Holland, and Deputy Managing Director and Production Director for Shell Expro UK.

Ennio Sganzerla
Member of International Advisory Board
Ennio Sganzerla was until recently Senior Vice President (E&P) at ENI, having joined the group in 1971. Since 1997, he has been responsible for the North Sea, America, Australasia and Russia. Previously, he was Managing Director of ENI''s sizeable North Sea operations.

Over the course of his wide-ranging career at ENI, he was instrumental in establishing and building ENI''s presence in Congo, and played an active role in increasing ENI''s position in Nigeria, Gabon and Egypt as Regional VP for Africa. Mr Sganzerla was also active in leading the group''s M&A activities, including the acquisition of Lasmo plc, British Borneo and others.

Galib Virani
Head of Acquisitions and Investor Relations
Mr Virani gained over seven years of Investment Banking and Corporate Finance experience prior to joining Afren in 2006. He was previously a Vice President in the Corporate Finance and Advisory group of Dresdner Kleinwort Wasserstein with a focus on the Oil and Gas sector.

During his tenure at Dresdner Kleinwort Wasserstein, he executed over 15 Mergers & Acquisitions and Equity Capital Market transactions and represented clients in the Oil & Gas sector including ExxonMobil, Statoil, Ruhrgas and Lasmo.

He is a Fellow of the Securities Institute, has a Master of Philosophy in Emerging Market Investment and a Master of Arts in Finance & Investment (with Distinction).

Alan Hunt
Okoro-Setu Asset Manager
Mr Hunt has over 30 years of international project management experience Shell International Exploration and Production. Mr Hunt held various senior level positions within Shell International and was previously Chief Engineer in Nigeria for a number of years, Managing Director of Shell Peru E&P, Project Development Manager for Shell Expro and was responsible for the early stages of the development of the Sakhalin Project.

Mr Hunt holds a Masters degree in structural Engineering from Imperial College London.

Jeremy Whitlock
Financial Controller
Mr Whitlock is a qualified accountant with eighteen years experience in the oil industry. He spent thirteen years with Enterprise Oil in a variety of roles across the finance department, including several years as Financial Planning Manager, in charge of the team responsible for all financial Board reporting, budgeting and corporate modelling, both for internal planning purposes and for large corporate deals. He also spent some years as International and Corporate Finance Manager, responsible for all financial aspects of the Group''s smaller international offices and all areas of head office accounts, including a significant role in finalising the Group annual report and accounts.

Prior to joining Afren, he was Planning Manager at Nexen (UK) - previously EnCana (UK) Ltd - where he was responsible for building the company corporate model and all economic analysis of both projects and acquisitions for the company. He played a significant role in the sale of EnCana (UK) Ltd to Nexen for US$2.1 billion.

He is a member of the Institute of Chartered Management Accountants since 1989 and holds a Bachelor of Science degree in mathematics from Durham University.

Iain Wright
Technical Director
Mr Wright leads Afren''s technical team and is responsible for all geoscience and reservoir engineering activities associated with Afren''s ongoing exploration, development and production assets together with new business technical assessments to enhance the company''s portfolio. With over 25 years working in the industry, he has extensive international geosciences experience and has served in both development and exploration geology roles. Previously, he was a Managing Director at Jefferies. He also worked with Randall & Dewey, Baker Hughes, Qatar Petroleum, Conoco (UK) Ltd. and Anadrill Schlumberger. Mr. Wright received a BSc (Hons) from the City of London Polytechnic and is a Certified Petroleum Geologist (CPG) with the AAPG, a fellow with the Geolsoc, the SPE and PESGB.

Patrick Cherlet
Director of Operations
Mr Cherlet oversees Afren''s oil & gas operations and commercial valuations. Mr Cherlet specialises in the organisation of global oil & gas projects, taking projects from entry to exploration and development. He also specialises in the commercial valuation of oil & gas assets and projects. Previously, he held management positions at Western Geophysical, Western Atlas, Baker Hughes, Randall & Dewey and Jefferies International. Mr Cherlet received an MS from Stanford University and an MS from Ghent University in Belgium.

Jack McFarland
Director of Operations
Mr McFarland is a registered petroleum engineer with over 30 years'' experience in the oil and gas industry. He has extensive experience in reservoir, operations and production engineering coupled with a successful track record in oil and gas asset evaluations and acquisitions. Prior to joining Afren, he was a Director at Valiant International Petroleum, Vice President and Partner at Panther Resource Corporation, and President and General Manager at Ocean Côte d''Ivoire, amongst others.

Andrew Olleveant
Head of EHSS
Mr Olleveant is a qualified health and safety professional with 18 years'' experience in the oil industry, over 10 of which were spent in an international role with LASMO. He has extensive experience of managing the EHSS issues associated with major oil and gas projects as well as wider risk management experience. In previous roles he has been responsible for developing and implementing management systems and providing corporate assurance that effective controls are in place.

Mr Olleveant holds a Master of Science degree in Engineering Geology from Durham University and a Bachelor of Science degree in Environmental Science from Lancaster University.

Shirin Johri
Group General Counsel and Company Secretary
Prior to joining Afren, Ms Johri worked in Cadwalader, Wickersham & Taft LLP''s African practice. She has extensive experience advising on acquisitions and disposals, joint ventures, infrastructure projects and private equity investment. Ms Johri has led the Afren team in all significant corporate acquisitions since joining in 2006. She holds an LLM from the Cornell Law School, New York, an LLB (Hons) from Delhi University, India and a Bachelor''s degree from Delhi University. She has also been called to the New York Bar.

Faiz Imam
Director, Afren Nigeria
Mr Imam has 15 years'' experience in the oil industry. He has worked in a variety of roles including production engineering, facilities and gas engineering and government relations. Since joining Afren, he has made a significant contribution to the Company''s business development initiatives in Nigeria.

Mr Imam''s career began with Texaco in Nigeria as an offshore production engineer. He moved through to developing projects, handling associated gas production, and then on to deep-water project development. Mr Imam was part of the team that worked on the billion barrel Agbami field. He holds a MEng in Chemical and Biochemical Engineering from University College, London.

Jane Barker
Group Head of Human Resources
Mrs Barker joined Afren in 2008 as Head of Human Resources, a role which encompasses Group-wide responsibility for all HR activities including recruitment, retention, reward and organisational development. She has over 25 years'' human resources experience in the oil and gas industry with Chevron, Gulf, LASMO and African Arabian; this included a three year assignment as Head of HR for a new country entry in Venezuela. She also spent five years as Head of HR in financial services for insurer ''esure'' during their start-up phase.

Adebayo Ayorinde
Technical Director, Afren Nigeria
Mr. Ayorinde has over 20 years'' experience in the oil and gas industry. His experience spans production and maintenance operations, oil & gas project economics, facilities engineering, management, drilling and completion engineering. Prior to joining Afren, he was Chief Operating Officer at Allied Energy Resources, a Director and General Manager at Moni Pulo Limited, and an Onshore Production Manager at Ashland Oil amongst others. Mr. Ayorinde received a BSc (Hons) in Chemical Engineering from the Obafemi Awolowo University in Nigeria and is a member of the Society of Petroleum Engineers.

Taiwo Olushina
Group Drilling Manager
Mr Olushina has 20 years'' experience in the oil and gas industry. His experience spans project / design management, drilling and completion engineering and operations. Prior to joining Afren, he spent 14 years with ExxonMobil in various technical and management capacities in Nigeria and the USA, including a spell as Head of Drilling Engineering, Mobil Producing Nigeria. Mr Olushina received a BSc (Hons) in Mechanical Engineering from the University of Lagos in Nigeria and is a member of the Society of Petroleum Engineers.

Daniel Sasegbon
General Counsel, Afren Nigeria
Mr Sasegbon has a wealth of legal experience and has worked as a Barrister in the UK, and also as an independent commercial advisor. He has 15 years experience in advisory work, including in oil and gas in Nigeria and the Gulf of Guinea, where he has advised a number of indigenous and international operators on farm-ins, production sharing contracts, joint venture agreements, FPSO and other operational contracts. He has acted in an advisory capacity for exploration and production companies in the Gulf of Guinea as well as a number of leading Oil Service firms in Nigeria, Independent Power Project (IPP) companies and other infrastructure investment consortiums. He has previous experience working for Nigerian National Petroleum Company (NNPC) and Jardines Insurance Brokers in the UK before jointing the Bar.

Deji West
Finance Director, Afren Nigeria
Mr West leads the Finance function in Afren Nigeria and is responsible for all finance, accounting and information systems in the region. Mr West has over 23 years experience with an in-depth knowledge of commerce, finance and accounting from working in several industries which include Distribution, Consulting, Banking, Manufacturing and Oil & Gas. Prior to joining Afren, he was the Group CFO of the Sahara Group (Nigeria''s largest private Oil & Gas Company). Other organisations he has worked with include British Petroleum, Price Waterhouse (now PWC) and Mellon Bank. He has a wealth of experience having worked in the UK, Europe, Asia, the Far East and the US. Mr West received a BSc degree in Civil Engineering from City University London and an executive MBA in Finance and Strategy from the City University Business School. Mr West is a member of The Institute of Chartered Accountants in England & Wales and The Institute of Chartered Accountants of Nigeria.

Koffi Adje
General Manager, Afren Côte d’Ivoire
Mr Adje is an industrial engineer with over 25 years experience in the oil and gas industry. He started his professional career in ExxonMobil as a production engineer, where he held several management positions. He joined Petroci (the national oil company of Côte d''Ivoire) in 1984 where he fulfilled a number of operational roles. He later joined Devon Energy as Deputy Operations Manager and was subsequently appointed General Manager.

Shahid Ullah
Chief Operating Officer
Mr Ullah has held senior management positions at Western Atlas and Baker Hughes, where he was responsible for managing petroleum equities and assets. In particular, he brings extensive technical and commercial knowledge of the African petroleum industry. Mr Ullah holds a degree in Petroleum Engineering from the University of Texas and received executive development training at Oxford University and the London Business School. He is a member of the Engineering Advisory Board at the University of Texas.

Darra Comyn
Group Finance Director
Mr Darra Comyn is responsible for leading and directing Afren''s finance function Group-wide. Mr Comyn ensures the adherence to all corporate governance requirements and the finance function provides the Executive team with accurate and effective financial information for decision-making purposes.

Mr Comyn was previously the Group Finance Director for ITE Group plc and Expomedia Group Plc (both international groups focused on emerging markets); and in the oil industry with Chevron Oil UK and Dragon Oil where he was Group Financial Controller and Company Secretary.

Mr Comyn is a Chartered Accountant with a degree in Economics from Trinity College, University of Dublin.

Toby Hayward
Non-executive Director
Toby Hayward qualified as a Chartered Accountant with Touche Ross & Co in 1984 and subsequently held a number of senior Equity Capital Market positions in the City of London. Mr Hayward was formerly Managing Director and Head of Corporate Broking at Jefferies International Limited, where he was responsible for all international equity and equity linked capital markets transactions together with corporate broking and Nomad responsibilities. Prior to this, Mr Hayward was Head of Oil and Gas Equity Capital Markets at Canaccord Adams, where he led a number of Initial Public Offerings, including Afren''s in March 2005.

Niall McCormack
Exploration Director
In March 20111, Afren announced the appointment of Dr Niall McCormack as Exploration Director, with responsibility for Afren''s exploration strategy and work programme. Prior to joining Afren Dr McCormack held various senior positions within Hess Corporation, most recently managing Exploration, Exploitation and Appraisal for Africa. While in this role, he led a large multi-disciplinary team and was accountable for all exploration, exploitation and early appraisal activities in Africa. Earlier in his career he worked for The Institute of Geological and Nuclear Sciences in New Zealand and for BP in a number of countries as a geologist. He holds a Ph.D. and BA in Geology from the Department of Geology, Trinity College, Dublin University, where he has also been appointed a research associate. Dr McCormack also teaches and lectures both nationally and internationally, including at the Yale MBA and Environmental Masters Programs.

Sheree Bryant
Non-executive Director
Ms Bryant is a senior executive with a track record of developing, implementing and coordinating a wide range of innovative corporate social responsibility initiatives. In 2008 she founded Social Policy Group (SPG), a non-profit organisation which evaluates and develops recommendations on key issues in global health and social policy, and continues to serve as a Director. Prior to SPG Mrs Bryant worked with the Commonwealth of Massachusetts and The Department of Government at Harvard University.

Ms Bryant is a Postgraduate Fellow of both the King''s Institute for the Study of Public Policy at King''s College, London and Harvard University. She has a BA from the University of Texas at Austin.

Afren PLC Offices

United Kingdom
Head Office
Afren plc
Kinnaird House
1 Pall Mall East
Tel +44 (0)20 7451 9700
Fax +44 (0)20 7451 9701
Côte d'Ivoire
Afren Côte d'Ivoire, Ltd.
Avenue Delafosse
RDC Résidence Pelieu
04 B P 827 Abidjan 04
Tel +225 20 254 000
Fax +225 20 226 229
Afren Energy Ghana Limited
c/o GNPC
1st Floor, Petroleum House
PMB, Tema
Tel +233 22 206 828
Fax +233 22 206 828
Afren Nigeria
1st Floor, The Octagon
13A, A.J. Marinho Drive
Victoria Island Annexe
Tel +234 (1) 4610130
Fax +234 (1) 4610139
United States
Afren Resources USA, Inc
10001 Woodloch Forest Drive
Suite 360
The Woodlands
Texas 77380
Tel +1 281 363 8600
Fax +1 281 292 0019       Learn more about a Premium OilVoice Membership