Lagos is said to most likely join the league of oil producing states by 2015, with the upcoming start of the Aje oil field production located approximately 24 kilometres offshore Lagos, Nigeria.

Development-planning studies of the Aje oil field have just been completed and there are plans to proceed with field start-up arrangements immediately. The Final Investment Decision (FID) is expected in soon with first production expected at the end of next year. Approved by the Nigerian Department of Petroleum resources (DPR) early this year, the Field Development Plan (FDP) primarily focuses on the Cenomanian oil development.

The joint venture participants have undertaken detailed development planning studies of the Aje field, which have now been completed and they are currently considering the proposal to proceed with the Phase 1 Cenomanian oil development.

The first important activity in the field will be the drilling of Aje-5 and the completion of this well and the existing Aje-4 well, in first quarter 2015. Installation of the production facilities, including tying the wells to the FPSO, will occur later in 2015. The field, which is defined by 3D seismic, can be developed with wells drilled in conventional water depths of approximately 100-400 metres.

The gross 2P oil reserves for the Phase 1 Cenomanian oil development are 23.4 million barrels. The gross 2C contingent resources total an additional 179 million barrels of oil equivalent, of which 15.7 million barrels of oil is attributable to the Phase II Cenomanian oil development and the remainder to the later Turonian gas/condensate development.

The initial field discovery well, Aje-1 was drilled in 1996. A total of four wells have now been drilled on the Aje Field and hydrocarbon resources proven at three reservoir levels. An initial field production rate of approximately 10,000 barrels of oil per day is anticipated. Solution gas will be used as fuel. Drilling and completion operations are expected to commence in Q1 2015.