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Partners Complete Aje-5 Development Well

Partners have completed the Aje5 Well which is the first of two wells planned for the development of the Aje Field offshore Lagos Sate, saying the drilling results doubled as appraisal of the earlier wells. Panoro Energy reported that logging data from Aje-5 development well “is consistent with data from the Aje-1, Aje-2 and Aje-4 wells”.

Aje-5 is the first of two planned development wells in the first phase of the field development. It is now being completed as a subsea production well. Aje is an offshore field located in the western part of Nigeria in the Dahomey Basin close to the border with Benin.

The field is situated in water depths ranging from 100 to 1,000 metres about 24 km from the coast. Panoro Energy holds a 6.502 percent participating interest in OML 113 with a 12.1913% revenue interest and 16.255% paying interest in the Aje Field.

The Aje Field contains hydrocarbon resources in sandstone reservoirs in three main levels – a Turonian gas condensate reservoir, a Cenomanian oil reservoir and an Albian gas condensate reservoir.

It’s a relatively small oil pool in a gas rich environment. Plan is to produce as high as 10,000Barrels of Oil Per Day at peak from the two producer wells. A Floating Production Storage Offloading (FPSO) facility is under construction at the Keppel Shipyard in Singapore.

If the field reaches first oil as scheduled, in First Quarter 2016, it will be the first commercial oil development outside of the Niger Delta basin and it will happen in the 60th year of commercial discovery in the Niger Delta.

The independent exploration and production company with assets in Nigeria and Gabon had earlier stated that it was optimistic that the Aje-5 production well on the OML 113 license, offshore Nigeria would soon spud first oil following key drilling progress by Joint Venture Partners (JV) of the field.

Providing update on efforts by partners to progress on oil production, Panoro said, that the Aje-5 well has now reached targeted depth of 3,255 metres measured depth, having been drilled with the Saipem Scarabeo 3 semi-submersible drilling rig in 300 metres water depth and the well was drilled as a deviated well targeting close to the Aje-2 well subsurface location.

The company further said that the Aje-2 was drilled in 1997 and encountered and tested a high quality oil-bearing Cenomanian reservoir adding that drilling operations at Aje-5 have been completed ahead of schedule with no safety related incidents reported and the well is now being completed as a subsea oil production well.

‘The Aje Joint Venture partners are continuing to evaluate opportunities to commercialise this significant hydrocarbon resource in the future.

After these operations the rig will be moved to re-enter the existing Aje-4 well to complete it as a second Cenomanian production well. A further operational update will be provided at that time’ the company said in a statement.

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