An oil firm, Yinka Folawiyo Petroleum Company Limited (YFP), has started the production of crude oil from its Aje Field located in Block OML 113, offshore Lagos.
The firm said oil produced from the Aje field will be stored on the Front Puffin, which has production capacity of 40,000 barrels of oil per day and storage capacity of 750,000 barrels.

Aje is an offshore field located in OML 113 in the Dahomey Basin in the Southwest. The field is situated in water depths ranging from 100 to 1,000 metres, about 24 km from the coast.

Its Chairman Tunde Folawiyo said: “The attainment of this milestone is indeed a laudable achievement not just for YFP but for the Nigerian oil and gas industry as a whole and indeed Lagos State which can now be addressed as an oil producing state. Recording this achievement in the present global oil climate together with the peculiar challenges of the field is clearly no mean feat.”

A statement endorsed by its General Manager, Bolaji Musa, said the oil firm is a wholly owned Nigerian company and Operator of OML113. The other partners are: New Age Exploration Nigeria Limited, EER (Colobus) Nigeria Limited, Pan Petroleum (Panoro Energy) Aje Limited and PR Oil & Gas Nigeria Limited.

“After over 25 years of exploratory, appraisal and developmental activities, YFP has successfully pioneered the opening of the Frontier Benin Embayment. The Aje Field is the first field to record production from this part of Nigeria and is the first production outside of the Niger Delta.

“Commissioning of the Front Puffin FPSO was successfully completed after its arrival in Nigeria on 16th March 2016.
“We are very proud of and appreciative of the efforts, determination and commitment, of the entire Aje Project team past and present, the constant support from our regulators, the DPR and Ministry of Petroleum and our financiers. We believe this crucial support will spur us on to even greater achievements.

“The Aje 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,” YFP added.

FOLYKAZE:
Lagos with his huge economic potential is adding Oyel dollar into her pulse.

The rich getting richer. . .the poor get screwed.

Terry68:
Since the west don start oyel production. Make FG allow the south south grounds to relax a bit.

Dem don try... Make we follow use oyel from 'west', develop all part of Nigeria.

rottennaija:
Good.
They should start building pipeline from there to kaduna refinery

Firstinline:
Shame on the Niger Delta Avengers for allowing the South East pple and ipod fools to cajole them into destroying their land and listing the release of Nnamdi kunu as one of the conditions for peace.

Why not those Ipod fools also start destroying F.G infrastructures in the South East.

Good pple of the south south, do not be deceived, the S.E will only take advantage of you because of what they can get from you.

Refuse to be identified or lumped together with them. Its better u stand alone.

FOLYKAZE:


What was left in Delta state, Bayelsa and the Niger delta creeks since Oil major companies moved their headquarters to Lagos? Those areas have returned to it shadow.

Business thrive with peace and not violence. Since Lagos offer peace, see every nook and cranny of Lagos feeling the impact of Oyeldollar.

We will develop Nigeria, Chad basin will soon contribute their quota. Ondo state is gearing up. You can go and drink your polluted water. . .Nigeria will live when you are gone

rottennaija:
Good.
They should start building pipeline from there to kaduna refinery

SamuelAnyawu:
Please Chevron should begin their operation in Ngor-Okpala, Imo State. We the youths will provide free security for their installations and staff .

Igbo states developed with Little/no Crude, I just can't imagine how far Southeast will go with full oil exploration in Aguleri, Anambara and Imo..

NigerDeltans continue the bombing biko instead of demanding good roads, health centres, entrepreneurship trainings, scholarship abroad you all are happy that a few militants should be compensated and become billionaires, while 70% of you still remain in poverty.

Kontinu

SamuelAnyawu:
Please Chevron should begin their operation in Ngor-Okpala, Imo State. We the youths will provide free security for their installations and staff .

Igbo states developed with Little/no Crude, I just can't imagine how far Southeast will go with full oil exploration in Aguleri, Anambara and Imo..

NigerDeltans continue the bombing biko instead of demanding good roads, health centres, entrepreneurship trainings, scholarship abroad you all are happy that a few militants should be compensated and become billionaires, while 70% of you still remain in poverty.

Kontinu

bender79:
Good! let the avengers drink their oil...soon they will start giving their traditional rulers conditions and ultimatums for peace. Nonsense

Firstinline:
Shame on the Niger Delta Avengers for allowing the South East pple and ipod fools to cajole them into destroying their land and listing the release of Nnamdi kunu as one of the conditions for peace.

Why not those Ipod fools also start destroying F.G infrastructures in the South East.

Good pple of the south south, do not be deceived, the S.E will only take advantage of you because of what they can get from you.

Refuse to be identified or lumped together with them. Its better u stand alone.