Monday, June 6, 2011

Socar markets Nigerian Ebok crude for Afren

SINGAPORE(Reuters) - Azeri state energy firm SOCAR is marketing crude from the new Ebok offshore field in Nigeria operated by British oil and gas company Afren (AFRE.L: Quote).

Socar sold the first 500,000-barrel cargo of the heavy sweet Ebok crude to a refiner about three weeks ago at a price related to Atlantic Basin benchmark dated Brent, said Ludwig Hachfeld, project director of Socar trading, on the sidelines of the Asia Oil & Gas Conference in Kuala Lumpur.

Production from the field is expected to reach between 30,000-40,000 barrels of oil per day (bpd) in coming years [ID:nLDE74H14Q], but Hachfeld declined to give a timeline.

Output at Ebok reached 17,000 bpd, Afren said last month. The company also owns fields in Ghana, Tanzania and Ethiopia. (Reporting by Florence Tan; Writing by Alejandro Barbajosa)

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