Aje Oil Field To Soon Experience Significant Of Production Boost



This year will be important for plans to expand production at Nigeria’s Aje field, according to Nigerian independent ADM Energy, according to Petroleum Economist

The firm expects Norwegian independent Petronor to complete the formalities of its acquisition of a stake in Aje, which “will enable the partners to progress the field development plan and significantly increase production”. Petronor is “a heavyweight partner” and “keen to extract further value from the asset”, says ADM.

And CEO Osamede Okhomina adds that, by buying in, Petronor demonstrates “confidence in the potential of Aje”. The field’s output averaged 1,117bl/d in 2021. Petronor is in the process of acquiring all of Oslo-listed  independent Panoro’s 13.1pc stake

Yinka Folawiyo Petroleum Company Limited, a wholly-owned indigenous firm and operator of the OML 113 offshore Lagos, had in May 2016 started production of crude oil from the field. Other partners are New Age Exploration Nigeria Limited, EER (Colobus) Nigeria Limited, Pan Petroleum (Panoro Energy) Aje Limited and PR Oil & Gas Nigeria Limited.

Panoro had in an update posted on its website on April 20 said the final hook-up procedures were in progress with a view to bringing the wells into production shortly.

The YFP had after over 25 years of exploratory, appraisal and developmental activities, successfully pioneered the opening of the Frontier Benin Embayment, describing the Aje field as the first to record production from this part of Nigeria and the first production outside of the Niger Delta.

The inauguration of the Front Puffin Floating Production, Storage and Offloading vessel was successfully completed after its arrival in Nigeria on March 16, 2016

. Oil produced from the Aje field is stored on the Front Puffin, which has a production capacity of 40,000 barrels of oil per day and storage capacity of 750,000 barrels.

olusola Bello

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