Afren

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Type Public Limited Company[1]
Traded as LSE: AFR[2]
Founded 2004[3]
Headquarters London (UK)[4]
Key People Mr Osman Shahenshah (CEO)[5]
Products Oil and gas exploration.
Revenue $1499 million[6]
Employees 485[7]
Website www.afren.com

Overview

Afren was an international oil company engaged in Africa. It owned assets in 11 countries including Nigeria, Ghana, Cote d'Ivoire, Sao Tome & Principe and the JDZ, Congo Brazzaville, South Africa, Ethiopia, Kenya, Madagascar, the Seychelles, and Tanzania.[8] Since 2015, Afren is under administration. Root causes for the insolvency were management problems[9] and the slump in oil prices.[10] Afren’s former CEO, Osman Shahenshah and Shahid Ullah, the company’s former CFO are currently under investigation for alleged fraudulent activities which supposedly contributed to the company’s collapse.[11]

Global Operations by Country

Kenya

Main article: Afren Operations in Kenya

Tanzania

Main article: Afren Operations in Tanzania

References

  1. Afren" Afren, retrieved 25 October 2013
  2. Afren plc (AFR London)" Bloomberg Businessweek, retrieved 25 October 2013
  3. About Afren" Afren, retrieved 25 October 2013
  4. About Afren" Afren, retrieved 25 October 2013
  5. Afren: The Board" Afren, retrieved 25 October 2013
  6. Afren plc 2012 Full Year Results" Afren, 25 March 2013
  7. About Afren" Afren, retrieved 25 October 2013
  8. Afren Plc" Bloomberg, retrieved 14 February 2011
  9. [ https://www.telegraph.co.uk/business/2017/09/26/afren-bosses-charged-400m-fraud-triggered-collapse-oil-explorer/ Afren bosses charged with $400m fraud that 'triggered collapse' of oil explorer]" The Telegraph, retrieved 27 August 2018
  10. Afren becomes first victim of oil slump as it enters administration" The Telegraph, retrieved 27 August 2018
  11. [ https://www.telegraph.co.uk/business/2017/09/26/afren-bosses-charged-400m-fraud-triggered-collapse-oil-explorer/ Afren bosses charged with $400m fraud that 'triggered collapse' of oil explorer]" The Telegraph, retrieved 27 August 2018