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Crude Oil Production: Lagos Receives Major Boost

Crude Oil Production: Lagos Receives Major BoostThe Aje shallow-water field offshore Lagos might begin crude oil production before the year runs out following the commencement of drilling on the Aje-5 production well on the Oil Mining Licence 113.

The well is being drilled with the Saipem Scarabeo 3 semi-submersible drilling rig, Panoro Energy, one of the joint partners involved in the Aje field development, said in a statement on Monday.

“The drilling and completion for Aje-5 is expected to take approximately 70 days. Following this, the rig will be used to re-enter the existing Aje-4 well to complete it as a second Cenomanian subsea oil production well.”

It added that installation of the production manifold, flowlines, umbilicals and risers would take place in the fourth quarter of this year, after which the floating production, storage and offloading vessel, the ‘Front Puffin’, would be installed and commissioned.

“Production is expected to commence by year-end 2015 at an initial anticipated production flow rate of approximately 1,100 barrels of oil per day, net to Panoro from these two wells, in accordance with the first phase of the approved Field Development Plan.”

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