Lagos State is to join oil producing state this year according to Pumch. If we recall that the state detected some deposit of the natural resources but no word about it until now.
A group led by Yinka Folawiyo Petroleum Company Limited took the FID to develop the first phase of the Aje shallow water oil field for $220m.
The aim of the first phase is to produce 10,000 barrels per day of oil from two target wells in the Oil Mining Lease 113 area. A re-entry of Aje-4 will form the first producer, while drilling of Aje-5 is expected to be the second.
The plans include the use of Rubicon’s Front Puffin floating production, storage and offloading vessel, which produced oil from the Puffin field in the Timor Sea. The vessel will be brought up to specification soon, while the procurement of subsea equipment and the contracting of a drilling rig are progressing.
Credit:
Punch
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