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Thursday, May 26, 2016
Panoro Energy, in its Q1 results issued an update on the Aje field in Nigeria. Currently commissioning activities on the FPSO are being finalized and preparations are taking place for a 72 hour production test which is expected to be conducted in the near future.
Both the Aje 4 and Aje 5 wells were brought on stream at varying choke rates and both produced in excess of 5,000 bpd each on a 32/64” choke, with good well-head pressure. Gas lift has not as yet been used. It is expected that stabilized combined flow rates will be determined in the coming weeks, in conjunction with final mechanical optimization, commissioning, and the Nigerian regulatory approval process. The flow rates exhibited to date indicate a highly productive reservoir and further updates will be made in due course.
Panoro also reported that the geological models of the Aje field have been revised, using the new 3D seismic and the Aje-5 well data. This work supports the previously reported reserves and contingent resources volumes but with more confidence around the shape of the Cenomanian reservoir. This allows more precise planning for future Phase 2 drilling to be carried out, and possible well locations for Aje-6 and Aje-7 have been identified.
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