– Lagos is set to export its first crude oil by August

– The state joined the oil producing states officially in May

– Several international oil companies have shown interest in purchasing the oil

Following the commissioning of a production and storage vessel for crude oil, Lagos state is set for its first oil lifting for export from Aje field, offshore Lagos.

This is coming following a declaration by Governor Akinwunmi Ambode that Lagos had officially joined the oil producing states in Nigeria.

READ ALSO: Yinka Folawiyo Petroleum begins oil production in Lagos

This followed the discovery of crude oil by Yinka Folawiyo Petroleum Company Limited (YFP).

Daily Trust reports that the independent E&P Company in partnership with YFP on the Aje Field which made the announcement said the targeted stabilised production rates have not yet been achieved yet due to mechanical issues and Nigerian regulatory approvals.

“Until the outstanding issues are resolved, which could take until the end of Q4 2016, production shall be maintained at a restricted daily rate of approximately 7,000-8,000 barrels of oil.

“We expect the first crude oil lifting from the Front Puffin FPSO to take place at the end of August,” it said adding “In the meantime we continue to be encouraged by the performance of the reservoir to date.”

The company said several international oil companies have expressed interest in purchasing Aje oil.

“Laboratory assays have been delivered on Aje crude oil which show it to be as expected a high quality grade of approximately 42 degree API.”

John Hamilton, CEO of Panoro said: “We are very pleased with the reservoir performance at Aje and are planning the next steps to realize its full potential.”

READ ALSO: Lagos officially joins oil-producing states in Nigeria

Mr. Tunde Folawiyo who is the group managing director had told Governor Ambode that the company committed about $400m to achieve the feat.

He also said the oil well has the capacity to produce at least 12,000 barrels per day, with a possibility to increase to 25,000 to 50,000 barrels per day in the nearest future.

Meanwhile, the search for oil in the north has received a boost following the revelation by the Niger state government that large quantity of crude oil was in the Bida Basin ready for exploration.

Jonathan Vatsa who is the commissioner for information, culture and tourism in Niger revealed that the immediate past state government, through a committee it set up, had confirmed the availability of large quantity of crude oil in the Bida Basin.

Lagos is not a sovereign nation inside Nigeria so she can not export crude on its own.

It is Nigerian Govt that is exporting crude extracted from Lagos state. Is it not our oil again or because it is not in Biafra Land that will make it belongs to the state were it was extracted.

somebody educate me pls

yellowbars food don don

Yinmu... I know they av oyel Buh exporting? Not that fast

For the fact that it is written "Lagos set to begin exportation of crude oil in August" doesn't mean Lagos state will do that independently of the FG cos it can't. I think the heading is just to pass a message that Lagos is now a full oil producing state, hence making the state stronger with better leverage to negotiate the sharing of Nigerias oil Money. Hope this answers and educated u better sir?

crestedaguiyi:
Lagos is not a sovereign nation inside Nigeria so she can not export crude on its own.

It is Nigerian Govt that is exporting crude extracted from Lagos state. Is it not our oil again or because it is not in Biafra Land that will make it belongs to the state were it was extracted.

somebody educate me pls

Lol. Is that why these Ijaw miscreants decided to open bases all over Ijebu waterside in Lagos and Ogun?

These people and their fedora hats are very funny. Few drops of oil in a next part of Lagos and they have already paddled their primeval canoes there to cause trouble. No difference whatsoever between them and Eboe pikeys. While Eboes wander around aimlessly on land, these clowns wander around in creeks. Effing Bantu pikeys lol.

PLEASE PLEASE PLEASE
Ignorant children of Nairaland. Don't follow the idiocy of SE/SS youths. Lagos is not exporting crude oil. Let us not get into the stupidity business of inferior mongrel tribes .
Nigeria and it's JV partners own the oil and are exporting it. The income in export earnings, royalties et.c will go to all Nigerians.

The useless piggy Dokubo will just faint over this news.

kokozain:
– [s]Lagos is set to export its first crude oil by August

– The state joined the oil producing states officially in May

– Several international oil companies have shown interest in purchasing the oil

Following the commissioning of a production and storage vessel for crude oil, Lagos state is set for its first oil lifting for export from Aje field, offshore Lagos.

This is coming following a declaration by Governor Akinwunmi Ambode that Lagos had officially joined the oil producing states in Nigeria.

READ ALSO: Yinka Folawiyo Petroleum begins oil production in Lagos

This followed the discovery of crude oil by Yinka Folawiyo Petroleum Company Limited (YFP).

Daily Trust reports that the independent E&P Company in partnership with YFP on the Aje Field which made the announcement said the targeted stabilised production rates have not yet been achieved yet due to mechanical issues and Nigerian regulatory approvals.

“Until the outstanding issues are resolved, which could take until the end of Q4 2016, production shall be maintained at a restricted daily rate of approximately 7,000-8,000 barrels of oil.

“We expect the first crude oil lifting from the Front Puffin FPSO to take place at the end of August,” it said adding “In the meantime we continue to be encouraged by the performance of the reservoir to date.”

The company said several international oil companies have expressed interest in purchasing Aje oil.

“Laboratory assays have been delivered on Aje crude oil which show it to be as expected a high quality grade of approximately 42 degree API.”

John Hamilton, CEO of Panoro said: “We are very pleased with the reservoir performance at Aje and are planning the next steps to realize its full potential.”

READ ALSO: Lagos officially joins oil-producing states in Nigeria

Mr. Tunde Folawiyo who is the group managing director had told Governor Ambode that the company committed about $400m to achieve the feat.

He also said the oil well has the capacity to produce at least 12,000 barrels per day, with a possibility to increase to 25,000 to 50,000 barrels per day in the nearest future.

Meanwhile, the search for oil in the north has received a boost following the revelation by the Niger state government that large quantity of crude oil was in the Bida Basin ready for exploration.

Jonathan Vatsa who is the commissioner for information, culture and tourism in Niger revealed that the immediate past state government, through a committee it set up, had confirmed the availability of large quantity of crude oil in the Bida Basin[/s].

Yoruba and propaganda are like 5 and 6.

Lie from the pit of hell. If you have oil like you claim, stop all oil exploration, drilling and production in Niger Delta, and let Lagos oil feed the nation for only one day...just one!

Make i wait here

Good news

Nkem4040:



Yoruba and propaganda are like 5 and 6.

Lie from the pit of hell. If you have oil like you claim, stop all oil exploration, drilling and production in Niger Delta, and let Lagos oil feed the nation for only one day...just one!

Who is lying here. Where there are facts on line Google is ur friend. Besides Is Niger delta is now a state in Nigeria or a region? How could you be comparing a state and a region in oil exploration. Yoruba's are growing why the hatred?

isbish:
For the fact that it is written "Lagos set to begin exportation of crude oil in August" doesn't mean Lagos state will do that independently of the FG cos it can't. I think the heading is just to pass a message that Lagos is now a full oil producing state, hence making the state stronger with better leverage to negotiate the sharing of Nigerias oil Money. Hope this answers and educated u better sir?

hope it will not be offensive or wrong to request that the message be clearly passed next time

Lagos begins exporting oil.
Oil companies eexpress intrest in buying the oil. Stupid article

ok

Wait for sahara Reporters

crestedaguiyi:
Lagos is not a sovereign nation inside Nigeria so she can not export crude on its own.

It is Nigerian Govt that is exporting crude extracted from Lagos state. Is it not our oil again or because it is not in Biafra Land that will make it belongs to the state were it was extracted.

somebody educate me pls

its nigeria oil nt lagos oil so calm down nd stop whinning.mind u s2ast(biafra) only has 2% oil,while niger/delta(s.south) has 94% nd s.west exception of newly discovered oil in lagos has 4%.so what biafra oil are u saying.nt everybody scream our oyel like y'll

iamDiabolic:
its nigeria oil nt lagos oil so calm down nd stop whinning.mind u s2ast(biafra) only has 2% oil,while niger/delta(s.south) has 94% nd s.west exception of newly discovered oil in lagos has 4%.so what biafra oil are u saying.nt everybody scream our oyel like y'll

i didnt ask you whether its 1% or 0.1%.

i only asked that the title of the thread say clearly what the message intend to convey

crestedaguiyi:


i didnt ask you whether its 1% or 0.1%.

i only asked that the title of the thread say clearly what the message intend to convey

who title epp?

kokozain:

Who is lying here. Where there are facts on line Google is ur friend. Besides Is Niger delta is now a state in Nigeria or a region? How could you be comparing a state and a region in oil exploration. Yoruba's are growing why the hatred?

No Oil discovered in Lagos state please. Stop spreading lies

OP, please change the thread title, don't go in the path of the silly chestbeating fake Israelites and their "our oyel" criminal brothers. Lagos can't "export" oil on its own. Nigerian oil can however be produced in Lagos and exported by FG/NNPC/JV partners.

superstar1:
The useless piggy Dokubo will just faint over this news.

Chai ! The life of an ipob/nda/5percenter isnt an easy one...bad news everyday.

Yes This Oil and Gas

superstar1:
The useless piggy Dokubo will just faint over this news.

And nobody has ever seen the picture of the Platform, Rig, or FPSO....suddenly they are fetching oil from the stream

Congrats to lagos as it begins exportation of red oyel
https://www.nairaland.com/3256582/ambode-lied-oil-discovery-lagos

OgbonnaUbani:
Lagos begins exporting oil. Oil companies eexpress intrest in buying the oil. Stupid article

u are among the wise ones. on point