Yinka Folawiyo moves forward at Aje field off Nigeria

Yinka Folawiyo Petroleum and joint venture partners made the final investment decisions to develop the Aje Cenomanian oil reservoir in the OML 113 license in Nigeria.

Map of the Aje field. From Panoro.

The first phase has is estimated to cost US$220 million to reach first oil. First oil from Aje is scheduled for the end of 4Q 2015 with an initial gross production rate of approximately 10,000bbl/d.

The plan is to focus on the development of the Cenomanian Oil reservoir. The first phase of the Cenomanian development includes two subsea production wells tied back to Rubicon's Front Puffin floating production storage and offloading vessel (FPSO).

Phase one consists of the reentering the existing Aje-4 well to complete it, and drill a new well, Aje-5. Both wells will be connected with a subsea manifold and production flowlines to the Front Puffin FPSO.

Panoro says that the Aje-5 well trajectory is designed to intersect the Cenomanian reservoir close to where the Aje-2 well intersected the Cenomanian reservoir. This subsurface target has been selected since Aje-2 demonstrated excellent productivity in a Cenomanian production test conducted in 1997 where it flowed at 3766bbl/d of 41˚API oil despite the well sustaining significant productivity impairment during drilling operations. 

Modifications to the Front Puffin will begin soon to bring the FPSO into specification for production on the Aje field. According to partner Panoro Energy, procurement of subsea equipment and the contracting of a drilling rig for the Phase 1 development is also ongoing.

In July 2014 an independent review of the project was carried out by AGR TRACS International Ltd that showed there to be additional contingent resources within the Cenomanian reservoir that may be accessed through a second phase of the development comprising two additional development wells in the Cenomanian Oil reservoir.

The Aje Field Development Plan was submitted to Department of Petroleum Resources earlier this year, and approval to develop Aje was granted in March 2014.  The JV plans to begin phase two once phase one is on production.

Yinka Folawiyo Petroleum is the operator of the Aje field with joint venture partners New Age, FHN (Afren Subsidiary), Energy Equity Resources, Jacka Resources.