According to Punch newspaper, 20 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 Nigeria.
Yesterday, Yinka Folawiyo Petroleum Company Ltd, a wholly-owned indigenous firm and operator of the OML 113 offshore Lagos, announced the commencement of production of crude oil from the field. Other partners are New Age Exploration Nig. Ltd, EER (Colobus) Nig. Ltd, Pan Petroleum (Panoro Energy) Aje Ltd and PR Oil & Gas Nig. Ltd.
Aje field is the first to record production outside the Niger Delta. Oil produced from the Aje field will be stored on the Front Puffin, which has production capacity of 40,000 barrels of oil per day and storage capacity of 750,000…. ds is nt a good news to Lagosians at all….
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