Panoro Energy has started drilling operations at the Aje-5 production well in the OML 113 license, offshore Nigeria.
Being drilled using Saipem Scarabeo 3 semi-submersible drilling rig from a seabed location close to Aje-4 in 300m, the Aje-5 well will target a location close to the Aje-2 well, which encountered and tested oil-bearing Cenomanian reservoir.
The Aje-5 well will be completed as a subsea oil production well upon completion of drilling operation expected in approximately 70 days.
The semi-submersible rig will be later used to complete the existing Aje-4 well as a second Cenomanian subsea oil production well.
Located in the western part of Nigeria in the Dahomey Basin, the Aje offshore field is situated in water depths ranging from 100m to 1,000m about 24km from the coast.
The company said that the Aje field holds hydrocarbon resources in sandstone reservoirs in three main levels including a Turonian gas condensate reservoir, a Cenomanian oil reservoir and an Albian gas condensate reservoir.
Yinka Folawiyo Petroleum operates OML 113 with 60% interest while the remaining 40% stake is owned by a joint venture of Chevron Nigeria Deepwater, Vitol Exploration Nigeria, Panoro Energy, Energy Equity Resources and Jacka Resources.
