Oil and gas exploration firm Jacka Resources has unveiled the first oil reserves for the Aje field development, offshore Nigeria.
Jacka’s subsidiary PR Oil & Gas (Nigeria) holds the company’s interests in the field, located in OML113, about 24km offshore western Nigeria.
AGR Tracs International has completed an independent competent persons’ report on the field.
Oil reserves for the first phase of the Cenomanian oil development have been assessed as 23.4 million barrels of proved and probable reserves.
The gross contingent resources total a further 179 million barrels of oil equivalent (MMBOE), of which 15.7 million barrels is allocated to the second phase development.
Jacka booked proved and probable net reserves of 1.3 million barrels at the Aje field and revised the contingent resources from the second and third developments to 1.5 million barrels.
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The total net 2C contingent resources from the Aje Field have been increased to 12.1 MMBOE from 10.5 MMBOE.
Jacka Resources chairman Max Cozijn said: "Following the final investment decision by the joint venture the first significant activity in the field will be the drilling of Aje-5 and the completion of this well and the existing Aje-4 well, in Q1 2015.
"Installation of the production facilities, including tying the wells to the FPSO, will occur later in 2015. Jacka looks forward to achieving first commercial production at the end of 2015."
Yinka Folawiyo Petroleum operates the field with 25% revenue interest and Folawiyo Aje Services is acting as the technical adviser.
Other partners in the field include New AGE, First Hydrocarbons Nigeria, Energy Equity Resources and Panoro Energy.
Image: Location of OML113 and the Aje Field. Photo: courtesy of Panoro Energy.