The much anticipated first ever crude oil export cargo from the Aje field, offshore Lagos, will be shipped to the United Kingdom in September.

Following the commencement of the first oil production at the Aje field in May 2016, Panoro Energy, the London-based energy firm in partnership with operator Yinka Folawiyo Petroleum Company Limited (YFP), announced in July that the first crude oil lifting for export from the Aje field would begin by the end of August.


The company, while announcing its second quarter 2016 results and operations updates on Tuesday, however said it expected to sell the first cargo of Aje crude during September and that Glencore Energy UK Limited had been selected for its offtake.
The firm confirmed that Nigerian regulators recently officially approved production and the export sale from Aje.
It said in the update that the average gross daily production at Aje as calculated from May to mid-August was 5,500 barrels of oil per day (bopd), which included the entire testing, commissioning, and approval period completed in mid-July.
Commenting on the results and update, the CEO of Panoro Energy, John Hamilton, said achieving oil production at Aje in the second quarter was a milestone for the company.
“We expect to sell our first cargo of oil during September, representing the start of positive cash inflows from the Aje project.
“Realising the full potential at Aje is the key priority for the company and we remain focussed on moving the Dussafu project forward in Gabon,” he said.
Governor Akinwunmi Ambode had in May announced that Lagos had officially joined the League of Oil Producing States in Nigeria following the discovery of crude oil by YFP in the state.

babyfaceafrica:
Some people are not happy..but who cares!!!

Wizzyblack3:
its only a matter of time before what happen in ND start in SW.

OsuIbo:
We do not bomb pipelines in the SW. It is Militants that we bomb in the SW

Wizzyblack3:

Its not about ppl being happy or not, what's the future planning of the government towards making a better life for the ppl from the region? How is this going to improve the lives of the poor masses.
In the future, do you have any idea of what oil spillage could cause?

HtwoOw:
Thank God


Mentality of AWA OYEL should disappear in a few years because Lagos oil is purer than their oil , Hydrocarbon % or is it Octa rating , i am not sure , But i read it somewhere though

and if the ""is awa Oyel"" people want to break up ?? Good luck selling inferior oil in the global market


Bwahahahahahahahahah

OsuIbo:
We do not bomb pipelines in the SW. It is Militants that we bomb in the SW

flyingsnail:


Just 5,500 barrels of oil per day and people are jumping. If you are not business inclined you wont understand. For your information.


The oil and gas industry in the United Kingdom produced 1.42 million boepd.UK exports of oil-related goods and services have been estimated

at more than $40 billion a year in value.This amount is a reflection of how well established the UK's supply chain is internationally. The

competence of its people and the quality of its technology, particularly subsea, are very much in demand in oil and gas provinces around the

world.


Ewu Gambia !

HtwoOw:
Thank God


Mentality of AWA OYEL should disappear in a few years because Lagos oil is purer than their oil , Hydrocarbon % or is it Octa rating , i am not sure , But i read it somewhere though

and if the ""is awa Oyel"" people want to break up ?? Good luck selling inferior oil in the global market


Bwahahahahahahahahah

ovieigho:
Am sorry if I don't get the drift here, is the federal government involved in this? Because the only names that keep coming up is folawiyo and governor ambode!! In the case of delta state with massive oil wells have never heard the voice of the governor handling the scheme of things its an all federal government affair in ND. Pls I need clarification

flyingsnail:


Just 5,500 barrels of oil per day and people are jumping. If you are not business inclined you wont understand. For your information.


The oil and gas industry in the United Kingdom produced 1.42 million boepd.UK exports of oil-related goods and services have been estimated

at more than $40 billion a year in value.This amount is a reflection of how well established the UK's supply chain is internationally. The

competence of its people and the quality of its technology, particularly subsea, are very much in demand in oil and gas provinces around the

world.


Ewu Gambia !

ovieigho:
Am sorry if I don't get the drift here, is the federal government involved in this? Because the only names that keep coming up is folawiyo and governor ambode!! In the case of delta state with massive oil wells have never heard the voice of the governor handling the scheme of things its an all federal government affair in ND. Pls I need clarification