Afren Announces Sail Away of Armada Perkasa FPSO

Tuesday, December 4, 2007

Afren plc and its partner Amni International Petroleum Development Company ("AMNI") announce the Sail Away Ceremony for the Armada Perkasa FPSO (Floating Production, Storage and Offloading vessel) in Singapore.

The FPSO will be the primary crude oil production, storage and export facility at the Okoro Setu Project, offshore Nigeria and is due to arrive at the Okoro Terminal in February 2008. The Armada Perkasa is owned and operated by Bumi Armada Berhad, one of the largest owners and operators of offshore support vessels in Malaysia.

The Armada Perkasa, a 211 metre and 33,081 ton vessel, which has been refurbished by Keppel Shipyard, will process the total well fluids, producing stabilised crude for storage in the FPSO, with subsequent regular off-take by export tankers. It has a storage capacity of 360,000 barrels of crude oil and a total liquids processing capacity of 27,000 barrels per day.

The FPSO Sail Away is an important milestone for the Okoro Setu Project. In the base case field development plan, up to five oil producers will be drilled from a single unmanned well head platform. Oil will be transported by pipeline to the FPSO, moored 800 metres from the well head structure, for processing and storage.

The Project is on track for first oil by the end of Q1 2008:

• The drilling template and well head platform decks have been fabricated in Lagos.
• The well head control unit has been completed and factory tested.
• Manufacturing of the flow-lines is nearing completion.
• The Adriatic VI, which has been contracted for a nine month programme is due to arrive on location in January 2008.

The Chairman of the House Committee on Petroleum (Gas) Hon Igo Aguma and the Honourable Minister of State for Energy (Gas) Mr Olatunde Emmanuel Odusina, represented the Nigerian Government and the ceremony was also attended by the Board of AMNI, led by its Chairman, Colonel (rtd) Sani Bello.

Osman Shahenshah, Chief Executive of Afren, commented:
“We are pleased to have accomplished another key milestone towards first production from the Okoro Setu project and remain on track to achieve first oil in the first quarter of 2008 and production of 15,000 - 20,000 barrels per day in mid 2008.”

Col (rtd) Sani Bello, Chairman of AMNI, commented:
“AMNI is delighted with the excellent progress on the Okoro Setu Project to date and the Armada Perkasa Sail Away is another key step towards first oil in Q1 2008.”

Mr Hassan Basma, Chief Executive of Bumi Armada, commented:
“We are delighted to have completed a quick refurbishment programme on the Armada Perkasa. Keppel Shipyard which has previously worked on the vessel, was instrumental in achieving the fast-track timeline.

Today, we are proud to bid farewell to our company’s FPSO as it leaves for Nigeria. The Armada Perkasa will be manned mainly by Nigerian crew and we have invested heavily in their training and will continue to do so for the future. We are also happy to have Century Energy Services Ltd, an indigenous Nigerian Company, as our ship management agent in Nigeria.”

Mr Tong Chong Heong, Managing Director and Chief Operating Officer, Keppel Offshore & Marine commented:
“We are confident that the FPSO has been refurbished to the highest specifications and are pleased to have achieved another successful delivery of the Armada Perkasa."


Article Tags

Afren PLC Nigeria Africa AIM West Africa


This article is for information and discussion purposes only and does not form a recommendation to invest or otherwise. The value of an investment may fall. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser. More


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