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November 25, 2021updated 27 Apr 2022 12:27pm

Aje Conventional Oil Field, Nigeria

By Carmen

Aje is a producing conventional oil field located in deepwater in Nigeria and is operated by Yinka Folawiyo Petroleum. The field is located in block OML 113 (OPL 309), with water depth of 3,280 feet.

Two expansion projects are associated with the Aje conventional oil field, namely Aje Phase 2 and Aje Phase 3. The expansion projects are currently in the approval stage.

Field participation details

The field is owned by Yinka Folawiyo Petroleum, New Age (African Global Energy), Energy Equity Resources, Panoro Energy and ADM Energy.


Production from Aje

The Aje conventional oil field recovered 3.98% of its total recoverable reserves, with peak production expected in 2025. The peak production will approximately 6.29 thousand bpd of crude oil and condensate, 96 Mmcfd of natural gas and 4.67 thousand bpd of natural gas liquids. Based on economic assumptions, production will continue until the field reaches its economic limit in 2046.


Remaining recoverable reserves

The field is expected to recover 135.2 Mmboe, comprised of 23.25 Mmbbl of crude oil & condensate, 505.38 bcf of natural gas reserves and 27.72 Mmbbl of natural gas liquid reserves. Aje conventional oil field reserves accounts 0.03% of total remaining reserves of producing conventional oil fields globally.


Methodology

Information on the field is sourced from GlobalData’s fields database that provides detailed information on all producing, announced and planned oil and gas fields globally. Not all companies mentioned in the article may be currently existing due to their merger or acquisition or business closure.

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