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Afren To Divest Its Shares In First Hydrocarbon Nigeria(FHN)

Femi Bajomo, FHN's Chief Operating Officer

Afren is willing to divest its 45% share in First Hydrocarbon Nigeria(FHN) and concentrate on growing its portfolio, as simply Afren, in Nigeria, the rest of Africa and Asia. A number of companies, including Seven Energy and Lekoil( both Nigerian independents), have expressed interest. First Hydrocarbon is partly owned by two leading Nigerian banks, GTB and FCMB, who have 10% each as well as a host of other Nigerian investors, including the businessman Dele Fajemirokun and Ken Etete owned Century Energy.

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