Aje油田Front Puffin浮式生产储卸船将于八月出产第一批原油

The FPSO arrived in Nigeria in March and first oil production from the Aje field started on May 3, 2016. The field, discovered in 1997, is located on the OML 113 license offshore Nigeria with Yinka Folawiyo Petroleum Company as the operator, and Panoro as a partner in the licence.

Front Puffin has production capacity of 40,000 barrels of oil per day and storage capacity of 750,000 barrels. Panoro said on Tuesday that targeted stabilized production rates have not yet been achieved, due to mechanical issues and Nigerian regulatory approvals. Until the outstanding issues are resolved, which could take until the end of 4Q 2016, production will be maintained at a restricted daily rate of approximately 7,000-8,000 barrels of oil. Panoro said it expects the first crude oil lifting from the Front Puffin FPSO to take place at the end of August.

Laboratory assays have been delivered on Aje crude oil which show it to be as expected a high quality grade of approximately 42 degree API and several international oil companies and trading houses have expressed interest in purchasing Aje crude, said Panoro.