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International Airlines To Reduce Flights To Nigeria Next Year / Dangote Quits Board Of Flour-producing Subsidiary / Lagos To Join Oil Producing State By 2015 (2) (3) (4)
Lagos May Emerge Oil Producing State Next Year by sartorius(m): 7:56am On Aug 27, 2014 |
LAGOS State may join the league of oil producing states in the country by next year, with the expected commencement of production from the Aje oil field, offshore Badagry. Specifically, thhttp://ngrguardiannews.com/business/176610-lagos-may-emerge-oil-producing-state-next-yeare Yinka Folawiyo-led joint venture has completed development-planning studies of the Aje oil field and planned to proceed with field start-up arrangements immediately. The partners said the Final Investment Decision (FID) are expected in the near future with first production expected at the end of 2015. The Field Development Plan (FDP), which was approved by the Nigerian Department of Petroleum Resources (DPR) early this year, is primarily focused on the Cenomanian oil development. The Aje Cenomanian crude is light, sweet under-saturated oil of approximately 39.4 API gravity with a gas oil ratio of 375-480 standard cubic feet per barrel (scf/bbl). The joint venture participants have undertaken detailed development planning studies of the Aje field, which have now been completed and they are currently considering the proposal to proceed with the Phase 1 Cenomanian oil development. Yinka Folawiyo Petroleum is operating the field with partners like Jacka Resources, New AGE, First Hydrocarbons Nigeria, Energy Equity Resources and Panoro Energy. Chairman Jacka Reources, Max Cozijn, in a statement Tuesday said: “Jacka is pleased to achieve this milestone in the development of the Aje Field and of the company. “Following the final investment decision by the joint venture the first significant activity in the field will be the drilling of Aje-5 and the completion of this well and the existing Aje-4 well, in first quarter 2015. Installation of the production facilities, including tying the wells to the FPSO, will occur later in 2015. Jacka looks forward to achieving first commercial production at the end of 2015,” According to him, an independent report on the Aje field recently completed by AGR TRACS International on behalf of the joint-venture partners has indicated that the gross 2P oil reserves for the Phase 1 Cenomanian oil development are 23.4 million barrels. The gross 2C contingent resources total an additional 179 million barrels of oil equivalent, of which 15.7 million barrels of oil is attributable to the Phase II Cenomanian oil development and the remainder to the later Turonian gas/condensate development. The Aje Field is located in OML113, approximately 24 kilometres offshore Lagos, Nigeria. OML113 covers an area of 835 square kilometres and water depths range from less than 100 metres to approximately 1,500 metres. The field, which is defined by 3D seismic, can be developed with wells drilled in conventional water depths of approximately 100-400 metres. The company said, a new 3D seismic survey, covering the whole of OML113, was acquired earlier in 2014 and will be used for locating subsequent development wells as well as pursuing exploration and appraisal targets, including the possible extension of the Ogo discovery from the adjacent OPL310 exploration area. The initial field discovery well, Aje-1 was drilled in 1996. A total of four wells have now been drilled on the Aje Field and hydrocarbon resources proven at three reservoir levels (Turonian, Cenomanian and Albian). “An initial field production rate of approximately 10,000 barrels of oil per day is anticipated. Solution gas will be used as fuel. Drilling and completion operations are expected to commence in Q1 2015, with FPSO installation in mid-2015. “All major contractors have been identified (FPSO, installation, flowlines, drilling among others) and contracting discussions are advanced, in most cases to draft contracts; which provides assurance on cost and availability of services.” it stated. “No crude sales agreements have yet been entered into for the project but as the Cenomanian oil is a light crude and the project is located on major shipping routes to and from Nigeria’s main oil producing areas, sales and access to transport is not expected to be a problem. “Following the approval of the FDP by the Nigerian authorities in Q1 of this year, there are no major environmental or regulatory approvals outstanding,” it stated. 6 Likes 1 Share |
Re: Lagos May Emerge Oil Producing State Next Year by Nobody: 8:04am On Aug 27, 2014 |
Great so finally...... Jona ohhhhhhhhhhhhhhhhhhhhhhhhh 1 Like |
Re: Lagos May Emerge Oil Producing State Next Year by SMALLPENIS(f): 8:05am On Aug 27, 2014 |
atleast, Niger Delta no go dey pose again PS; 2nd to comment I'll like to thank God, the nairaland crew and family, and last but not least, my smallpenis, for its wisdom 17 Likes 1 Share |
Re: Lagos May Emerge Oil Producing State Next Year by NewNigeriaMind: 8:10am On Aug 27, 2014 |
Let it be known Lagos cant wait to join oil producing states. 8 Likes |
Re: Lagos May Emerge Oil Producing State Next Year by RockMaxi: 8:14am On Aug 27, 2014 |
Lagos here comes the battle for your soul. 4 Likes 2 Shares |
Re: Lagos May Emerge Oil Producing State Next Year by Gbawe: 8:18am On Aug 27, 2014 |
NewNigeriaMind: Let it be known Lagos cant wait to join oil producing states. Indeed. 2 Likes |
Re: Lagos May Emerge Oil Producing State Next Year by Donmarrius: 8:27am On Aug 27, 2014 |
Congratulations!!! This is good news for Lagos.it will add to her already booming economy. Please,i hate those,who hates good news! 13 Likes |
Re: Lagos May Emerge Oil Producing State Next Year by NewNigeriaMind: 8:37am On Aug 27, 2014 |
If Lagos becomes an oil producer and Dangote refinery claimed to be the biggest in west Africa kicks off. I see greatness in the future. 12 Likes 1 Share |
Re: Lagos May Emerge Oil Producing State Next Year by Nobody: 8:38am On Aug 27, 2014 |
the more reason to keep the PDP out of Lagos. 35 Likes 3 Shares |
Re: Lagos May Emerge Oil Producing State Next Year by koboko69: 8:44am On Aug 27, 2014 |
Obiagelli: the more reason to keep the PDP out of Lagos.[quote author=Obiagelli] Very correct. Imagine how lagos has been developing and sustaining herself without oil. Imagine when the oil starts pouring out...i see another New York in Nigeria. This is only possible if PDP is kept in a corner. 42 Likes 1 Share |
Re: Lagos May Emerge Oil Producing State Next Year by Nobody: 8:49am On Aug 27, 2014 |
Oil again! Black curse. God save Lagos. Haa...hope they don't start fighting over oil money! Lagos without oil is way better than the one with it. You guys know that. 7 Likes |
Re: Lagos May Emerge Oil Producing State Next Year by Nobody: 8:52am On Aug 27, 2014 |
Woooooow, an API gravity close to 40. This is incredible!! No wonder, I saw a jack up rig recently. Eko oni baje oo 3 Likes |
Re: Lagos May Emerge Oil Producing State Next Year by thunderrider: 8:53am On Aug 27, 2014 |
Obiagelli: the more reason to keep the PDP out of Lagos. Are you sure this is possible? |
Re: Lagos May Emerge Oil Producing State Next Year by Nobody: 9:02am On Aug 27, 2014 |
[quote author=koboko69][/quote] very true. |
Re: Lagos May Emerge Oil Producing State Next Year by Nobody: 9:03am On Aug 27, 2014 |
thunderrider:somewhat difficult but quite possible. |
Re: Lagos May Emerge Oil Producing State Next Year by Nobody: 9:05am On Aug 27, 2014 |
This is good news and a welcome development!!! |
Re: Lagos May Emerge Oil Producing State Next Year by beejaymoore(m): 9:06am On Aug 27, 2014 |
#Stale |
Re: Lagos May Emerge Oil Producing State Next Year by naptu2: 9:46am On Aug 27, 2014 |
Lagos Oil Field To Start Production In 2014. https://www.nairaland.com/1148522/lagos-oilfield-start-production-2014 Badagry Refinery, Port and Energy City. https://www.nairaland.com/1112347/apmt-build-mega-port-ftz Badagry Refinery Port and Energy City. https://www.nairaland.com/1108847/multi-million-dollar-mega-port-planned Badagry Tourist And Energy City http://www.skyscrapercity.com/showthread.php?t=586319 4 Likes 1 Share |
Re: Lagos May Emerge Oil Producing State Next Year by Nobody: 10:04am On Aug 27, 2014 |
Nice One More Money Fun Awon Vultures Meanwhile................Jonathan Till 2019. Konmight Say So. 3 Likes |
Re: Lagos May Emerge Oil Producing State Next Year by UnknownT: 10:20am On Aug 27, 2014 |
When oil is found in other geopolitical zones, then all d zones will now join d southsouth in agitating for 50% oil deriavation. But now, most of d zones are against it cos they are not involved 11 Likes 1 Share |
Re: Lagos May Emerge Oil Producing State Next Year by huptin(m): 10:27am On Aug 27, 2014 |
Badagry? my hometown, time to go back, this oyel blessing must not pass me by. 12 Likes |
Re: Lagos May Emerge Oil Producing State Next Year by Nobody: 11:48am On Aug 27, 2014 |
God, I hope they refine it. |
Re: Lagos May Emerge Oil Producing State Next Year by superstar1(m): 12:44pm On Aug 27, 2014 |
This is bad news. I pray the curse placed on oil, will not affect this one too. 4 Likes 1 Share |
Re: Lagos May Emerge Oil Producing State Next Year by Idrismusty97(m): 1:14pm On Aug 27, 2014 |
Not only Lagos. Niger state and Borno would still join the list. Nigeria is sitting on too many untapped mineral resources. 3 Likes |
Re: Lagos May Emerge Oil Producing State Next Year by natureblack(m): 1:14pm On Aug 27, 2014 |
a century ago,petroleum was just an obscure commodity;today it is almost as vital to human existence as water. Even as scientist work to develop more sources of petroleum for the world,they should also continue vigorous pursuit of alternative fuels,so that we can be powered by cleaner,more efficient sources of energy. I wish the LASG best of luck though |
Re: Lagos May Emerge Oil Producing State Next Year by Blockus: 1:14pm On Aug 27, 2014 |
Groundnut oil or what? 3 Likes |
Re: Lagos May Emerge Oil Producing State Next Year by Nobody: 1:14pm On Aug 27, 2014 |
Good news E ko oni baje o! 9 Likes
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Re: Lagos May Emerge Oil Producing State Next Year by flowjoe: 1:15pm On Aug 27, 2014 |
Waoh .. U guys shud wish me HBDD 2 Likes |
Re: Lagos May Emerge Oil Producing State Next Year by EbiJUNIRO(m): 1:27pm On Aug 27, 2014 |
Whr dem get d oil from to emerge as oil producing state, na dream? 2 Likes |
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