Update on Aje field development offshore Nigeria
Panoro Energy (“the Company” or “Panoro” with Oslo Ticker: PEN) provides an update on the final stage of its development operations at the Aje oilfield offshore Nigeria.
The final hook up procedures are in progress with a view to the wells being brought into production shortly.
Panoro Energy has a 6.502% interest in the licence which is operated by Yinka Folawiyo Petroleum (YFP) and is located in the extreme western part of offshore Nigeria adjacent to the Benin border.
Five wells were drilled on the Aje Field. Aje-1 and Aje-2 tested oil and gas condensate at high rates from the Turonian and Cenomanian reservoirs, and Aje-4 confirmed the productivity of these reservoirs and discovered an additional deeper Albian age reservoir.
Source: Panoro Energy
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