Panoro Energy on Wednesday, announced that the Aje oil field offshore Nigeria, is in its last stages of development operations.

According to the company the concluding hook up measures are currently under way and the wells will start production soon.

The Aje oil field, was discovered in 1997, and is situated on the OML 113 license offshore Nigeria. The licence is operated by Yinka Folawiyo Petroleum but Panoro Energy has a 6.502% interest in the licence located in the western part of Nigeria close to the Benin border.

Five wells have so far been drilled on the Aje Field. Aje-1 and Aje-2 tested oil and gas condensate at high rates, Aje-4 confirmed the productivity of the Turonian and Cenomanian reservoirs and discovered extra deeper Albian age reservoir while the Aje-5 was spud in 2015 as a development well for the Cenomanian oil reservoir.

Concluding works on the Front Puffin floating production, storage and offloading (FPSO) vessel for the Aje field were completed and the vessel left Singapore in February en route to Nigeria. The FPSO was estimated to be received in Nigeria in mid-March 2016 and production was supposed to commence by the end of March 2016.

Panoro had said in February that once the FPSO was received it will be connected to the mooring system and risers and a short test of the production systems would be carried out, Offshore Energy Today reports.

Anita Fatunji