The Aje field, offshore Lagos, where crude oil production started nearly two and a half years ago, saw its output decline by 75,936 barrels to 912,870 barrels last year, latest data from the Department of Petroleum Resources showed.
The field began production with 127,224 barrels of oil in May 2016, and produced a total of 988,806 barrels that year, according to the reconciled production figures obtained from the DPR.
Its output fell from a high of 182,131 barrels in July to 70,878 barrels in December 2016. It dipped further to 53,613 barrels in April 2017 before rising to 103,942 barrels in July but declined to 58,255 barrels in December.
Crude oil export from Aje field fell to 822,669 barrels in 2017 from 922,703 barrels the previous year, with Oceania/Pacific and Europe being the export destinations.
Yinka Folawiyo Petroleum Company Limited, a wholly owned indigenous firm, is the operator of the Oil Mining Lease 113, where the field is located. Other partners are Pan Petroleum Aje Limited (a subsidiary of Panoro Energy), New Age Exploration Nigeria Limited, EER (Colobus) Nigeria Limited, and PR Oil & Gas Nigeria Limited (the holder of MX Oil’s investment in the field). Read more