Twenty years after it was discovered, the Aje field located in Oil Mining Lease 113 has achieved its first oil, putting Lagos on the list of oil-producing states in the country..
The milestone is coming after several missed targets for the achievement of first oil, the latest being March this year.
Yinka Folawiyo Petroleum Company Limited, a wholly-owned indigenous firm and operator of the OML 113 offshore Lagos, on Tuesday announced the commencement of 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 said after over 25 years of exploratory, appraisal and developmental activities, it had 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.