Companies

Nigeria: MX Oil makes first oil income from the Aje Field

Wednesday, 19 October 2016 12:59

(Ecofin Agency) - MX Oil on Wednesday announced that it has received its first income from the Aje Field on OML 113 in Nigeria.

According to the company, the first production of oil from the field has been sold for $1.2million.OML 113 encompasses an area of 835 km² offshore Nigeria close to the Benin border. It holds the Aje field and several other exploration prospects. The Aje field was discovered in 1997 and has multiple oil and gas condensate reservoirs in the Turonian, Cenomanian and Albian sandstones comparable to the Jubilee field, offshore Ghana. Five wells have so far been drilled on Aje.

Plans for phase 2, which will see more wells drilled so as to increase the entire Cenomanian oil production, are currently in progress on the field. Meanwhile, the Phase three is expected to target the development of the Turonian gas condensate reservoir.

We are very pleased to announce that the first oil production from the Aje Field has been sold and that we have now received our first income from our investment in OML 113,” MX chief executive Stefan Oliver told Energy Voice.

Anita Fatunji

 
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