Lagos Moves Closer to First Oil Well

Commercial oil production is expected to begin soon at Aje field, offshore Lagos, Panoro Energy, one of the joint partners involved in the Aje field development said in an update last week
The final hook up procedures is in progress with a view to wells being brought into production shortly, the firm head quartered in London said on the final stage of its development operations at the oilfield
Aje is an offshore field in the western part of Nigeria. It was discovered in 1997 and is located on the OML 113 license.
Panoro Energy has a 6.502 percent interest in the licence which is operated by Yinka Folawiyo Petroleum (YFP) and is located in the extreme western part of offshore Nigeria adjacent to the Benin border.
Five wells were drilled on the Aje Field. Aje-1 and Aje-2 tested oil and gas condensate at high rates from the Turonian and Cenomanian reservoirs, and Aje-4 confirmed the productivity of these reservoirs and discovered an additional deeper Albian age reservoir.
The OML 113 license has full 3D seismic coverage from surveys acquired in 1997 and 2014
In March 2014 the government of Nigeria approved of the Aje Field Development Plan (“FDP”) and in October 2014 the Final Investment Decision (“FID”) for the project was made.
The FPSO was expected to arrive in Nigeria mid-March 2016, following a brief stop in Cape Town, and the production was expected to start by the end of March 2016.