It is indeed a season of good news as the United States Energy Information Administration’s has revealed that by 2014, oil will be produced for the first time offshore Lagos State from the Aje gas and condensate field, which lies in Oil Mining Lease 113 in the Benin Basin, about 43 kilometers offshore Lagos.
The field is currently in the development planning stage, with first production expected in 2014.
Aje field is expected to reach a plateau production of between 50,000 to 80,000 barrels of oil equivalent a day. The water depth in the region is 3,000 feet. Read more