The Aje shallow-water field offshore Lagos is now expected to reach first oil at the end of January 2016 as against December this year previously targeted by the joint venture partners on the project.

One of the partners, Panoro Energy, an independent exploration and production company with assets in Nigeria and Gabon, stated this in a new update.

The company had reiterated in August that the operations at the Aje development remained on schedule, with production drilling underway in the third quarter and first oil production targeted for the end of 2015.

Panoro, in the latest update, said the Aje-5 production well located on the OML 113 licence had been successfully completed and the reservoir had been perforated in the Upper and Lower Cenomanian Oil bearing zones.

It said the subsea tree had been installed and the well had been suspended, ready for connection to the oil production facilities prior to the commencement of production.

Panoro said, “The Saipem Scarabeo 3 semi-submersible drilling rig has been moved to re-enter the existing Aje-4 well for completion as a second Cenomanian production well.

“All key equipment related to the Aje oilfield development has now been delivered to Lagos, including the FPSO moorings and turret buoy, the production manifold, the umbilical termination assembly, and the umbilicals and flowlines.”

The company further said, “In addition, the ongoing refurbishment of the Front Puffin FSPO is on schedule and it is anticipated that the vessel will sail from Singapore approximately six weeks prior to its installation date.

“Panoro currently estimates the project timing and costs to be largely on track, although for planning purposes, the company is now projecting that first oil should take place towards the end of January 2016.”

The joint venture partners led by Yinka Folawiyo Petroleum Company Limited had in October last year taken the final investment decision to develop the first phase of the Aje field.

Aje is an offshore field located in the western part of Nigeria in the Dahomey Basin at the border with Benin Republic.

The field is situated in water depths ranging from 100 to 1,000 metres about 24 kilometres from the coast. The field contains hydrocarbon resources in sandstone reservoirs in three main levels – a Turonian gas condensate reservoir, a Cenomanian oil reservoir and an Albian gas condensate reservoir.

Yinka Folawiyo Petroleum Company is the operator, with 25 per cent interest in the field. The other partners are Vitol, First Hydrocarbons Nigeria Limited, Energy Equity Resources Limited, Panoro Energy ASA and Jacka Resources Limited.

The JV partners had in January 2014 submitted the Field Development Plan for the Aje field to the Department of Petroleum Resources. The FDP was approved in March and is primarily focused on the development of the Cenomanian oil reservoir.


SOURCE: http://www.punchng.com/business/business-economy/lagos-oilfield-to-miss-december-production-target/

all for the best

South west is the most blessed region in Nigeria, lots of minerals yet will still hav fertile soil for farming. God bless my state and the rest yoruba cities and citizens