Home News Yinka Folawiyo Petroleum Taps Century Group on Aje Field

Yinka Folawiyo Petroleum Taps Century Group on Aje Field

Home News Yinka Folawiyo Petroleum Taps Century Group on Aje Field

Yinka Folawiyo Petroleum Taps Century Group on Aje Field

by CENTURYENERGY

Yinka Folawiyo Petroleum (YFP) have engaged indigenous oil services group, Century Energy Services Limited-CESL, raising the bar on Nigerian Content development in the streaming of Aje field, an offshore oil concession which brings Lagos State into the league of oil producing states in the country.
Industry analysts see this as

a remarkable milestone capable of rekindling the hope of the Agencies such as DPR , NAPIMS and NCDMB who have the responsibility of growing Nigerian Content to an ambitious level of about 50per cent by 2020 and re-invigorating the Nigerian -Can- Do -It spirit in the nation’s oil and gas industry.

Company officials say in deploying cost effective operation and maintenance services to the first oil field outside the Niger Delta region , CESL has shown proven competence and capability in offering fit-for-purpose solutions in strategic and technology driven areas such as engineering, fabrication and construction; marine and subsea services; pipeline system, pipeline leak/clamping; operation and maintenance.”
They continue “Consequently, Its age-long strategic partnership with YFP operators of the Aje field facilitated the development of this asset from a mere concept, twenty years ago; to full commercialization in May 2016.
With this positive development Aje field is the first oilfield outside the Niger Delta to produce commercial volumes of hydrocarbons, which has helped in no small measure to prove the prospectivity of other frontier basins in Nigeria.”
It is equally on records that Aje field is also the first and only oilfield in Nigeria where exploration and appraisal activities have been undertaken solely by indigenous Nigerian companies without the direct involvement of an international oil company (IOC).
Speaking on this positive development that has raised the bar on Nigeria content development, a Director in CESL- Chief Femi Akinmade (a former Director in ENI) said that he is delighted and it is indeed a dream come true to see the achievements recorded by YFP/partners and CESL in the deployment and management of an FPSO. He further stated that it is a clear confirmation that the Local Content Laws are being adhered to and is working. Years back, there was no chance for Africa, let alone Nigeria, to deploy and maintain an FPSO. YFP has brought this to bare and done us very proud and this validates CESL’s competence and capabilities as a wholly indigenous Oil and gas servicing company in the deployment, operations and maintenance of an FPSO. He said CESL will continue to deliver cost-effective operation and maintenance services on the Aje FPSO, in addition to providing further field development support and production optimization input on the asset.
Whilst the CESL Corporate Affairs Manager-Ms. Data Jaja also commended the management of YFP for their unwavering belief in the Nigerians Can-Do-It spirit by giving CESL the opportunity to be part of its success story and thus leading the vanguard of accelerated Nigerian Content Development drive in the nation’s Oil and Gas industry.
Again, the synergy between CESL and Yinka Folawiyo Petroleum, has inadvertently rekindled the hope of Nigeria’s journey to global recognition as an oil producer and not a rent seeker going by the number of her marginal fields that is coming on stream.
Aje field previously located in oil prospecting licence (OPL) 309 and now in oil mining lease (OML) 113, is an offshore oil and gas asset located in the frontier Benin-Dahomey basin, in water depth of about 300 feet, and 20 kilometers offshore Lagos.
The Aje wells (both completed in upper and lower Cenomanian reservoirs) are subsea wells tied back to a 40,000 barrels of oil per day (bopd), 18 million standard cubic feet per day (mmscf/d) of gas and Floating Production Storage and Offtake (FPSO) vessel – the Front Puffin FPSO.
CESL provides Operation and Maintenance (O&M) for the Front Puffin FPSO, providing production operations management, facility maintenance and marine support services for the Aje field, which is operated by FASL- Yinka Folawiyo Petroleum.
Located in OML 113 (20 kilometres offshore Lagos), Aje field is an offshore oil and gas asset in the frontier of Benin-Dahomey basin in water depth of 300ft and commercial reserves of about 20 billion barrels.
The field was discovered in 1996 through exploratory drilling, 3D seismic acquisition and follow-on appraisal drilling spanning nearly two decades.
Aje field reached first oil in May 2016, when it commenced production of commercial volumes of oil and gas from two wells.
Century Group is a Multi -operational company with interest and expertise in the full value chain of the oil and gas industry and non-energy sector in Nigeria . The group operates seven main subsidiaries- Century Exploration and Production Limited, Century Ports and Terminals Limited, Century Real Estate and Logistics, Elmina Petroleum Limited and Global Manning Resources Limited.
Today, CG contributes about 10% of the national daily production i.e. about 200,000boe/ bpd through provision of technical support services four ( 4) FPSO,
Five swamp Area Flow Stations, 1 MOPU + FSO and Ten (10) Oil fields.

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