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Aje field offshore Nigeria deemed commercial
LONDON: Yinka Folawiyo Petroleum Co. Ltd.'s Aje field in OML 113 offshore
Nigeria has been deemed a commercial discovery by the operating committee.
Accordingly, the partners in the Aje field have authorized Chevron, as
Technical Advisor to the operator, to prepare a development plan for the
field.
The Aje field is situated in water depths of about 3,000 feet (914 m),
situated about 15 miles (24 km) offshore, 40 miles (64 km) southwest of
Lagos, Nigeria. The discovery well, Aje-1, which was drilled in 1996,
encountered oil and gas in reservoirs of Cretaceous age, and flowed at an
aggregate rate of 42 MMcf/d of gas and 2,262 b/d of oil over three zones. An
appraisal well, Aje-2, which was drilled in 1997, flowed 3,866 b/d of oil
from a deeper separate additional zone that had not been encountered in
Aje-1.
While Yinka Folawiyo operates OML 113 and Chevron is an adviser, the other
partners are Providence Resources Plc, Vitol Exploration Nigeria Ltd. and
Energy Equity Resources Aje Ltd.
