Afren bullish on targets for 2011

Africa-focused oil and gas company Afren said production operations at a key field in Nigeria have started, giving it confidence it would reach its output targets this year.

Afren said oil production from its Ebok project started in February, behind its earlier goal of October, but in line with guidance it gave in December, as it confirmed it was on track to produce 40,000 barrels of oil equivalent per day in 2011.

“We’ll reach 15,000 barrels a day from the first phase during the course of April and 35,000 barrels a day by the end of the second quarter,” said chief executive Osman Shahenshah yesterday.