Offshore staff
LONDON — ADM Energy has issued an update on its technical review concerning the Aje Field in the OML-113 license, which is 24 km offshore Lagos, Nigeria.
Various financial and investment groups have expressed interest in the field.
During the fall, the partners, led by operator Yinka Folawiyo Petroleum, started reprocessing 3D seismic covering the Aje Field and a large part of the license area.
Reprocessing has finished and a field-wide structural reinterpretation is underway by the partners and geophysical consultants. ADM plans to have the reinterpreted 3D dataset reviewed by an independent technical consultant and then update the recoverable reserves and resources via a revised Competent Persons Report.
Based on initial findings to date, the Aje partners believe there is potential for a material uplift on the potential and value of the field, which to date has produced more than 5 MMbbl of oil.
Aje also has gas and condensate reserves in the Turonian, Cenomanian and Albian sandstones with five wells drilled to date.
04.03.2024
