Panoro Energy ASA, Oslo, has announced the completion of the Aje-4 well in the Benin basin’s Aje field offshore Nigeria. Oil production is scheduled to begin by yearend at an initial rate of 10,000 b/d, according to the company.
The well is connected by subsea manifold and production flowlines to Rubicon Offshore International’s floating production, storage, and offloading vessel, First Puffin, which produced oil from Puffin field in the Timor Sea.
Aje field lies 24 km offshore and is estimated to contain 200 million bbl of 2C contingent resources in Cenomanian-age reservoirs. Additional resources may be present in a separate reservoir and these may be accessed through a Stage 2 development comprising two more wells.
Yinka Folawiyo Petroleum Company Ltd., which operates oil mining lease (OML) 113 on which Aje-4 sits, discovered the field in 1996, drilling appraisal wells Aje-1 and Aje-2 to confirm oil pay in the Turonian and Cenomanian reservoirs respectively. By 2004, Yinka was seeking partnerships to develop the field and drill Aje-3 to confirm the structural interpretation of the field and determine fluid distribution (OGJ Online, Sept. 3, 2004).
Aje-4 was drilled in 2008. Oil and gas accumulations were reevaluated and the field was declared commercial. Field development entered its first phase in 2014 with a $220 million investment (OGJ Online, Oct. 10, 2014).
OML 113's term runs through July 2018 and may be extended by the Nigerian government.
Yinka is operator with 25% interest in the field. Partners include Vitol 24.05%, First Hydrocarbons Nigeria Ltd. 16.875%, Energy Equity Resources Ltd. 16.875%, Panoro Energy 12.19%, and Jacka Resources Ltd. 5%.
Contact Michael T. Slocum at [email protected].