Aje One Step Closer to First Oil

Panoro Energy revealed Thursday that the Aje field offshore Nigeria is one step closer to achieving first oil, following the completion of work on the asset’s FPSO.

The vessel is expected to arrive in Nigeria mid-March 2016, following a brief stop in Cape Town. Once the FPSO arrives in Nigeria it will be hooked-up to the mooring system and risers and a short test of the production systems will be conducted. Anchor handling operations at the Aje field started in January and will continue until mid-February, when subsea equipment including the manifold and flowlines will also be installed.

Panoro’s Chief Executive Officer, John Hamilton, said in a company statement:

“We are excited to be approaching first oil at Aje, offshore Nigeria. Significant operational and contractual progress has been made on the final phase of field development. With the drilling phase now concluded, the installation work and the arrival of the FPSO are the main remaining work streams. The field is expected to be producing by the end of March 2016.”

Panoro holds a 6.502 percent interest in the field. Its partners are Yinka Folawiyo Petroleum, New Age, Energy Equity Resources and Jacka Resources.



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