OIL HAS been hit offshore Nigeria in the first well drilled as part of the Aje development, joint venture partner Jacka Resources has announced.

Jacka, which holds a 5 per cent stake in oil mining lease (OML) 113, announced the Aje 5 well had reached a total depth of 3,255 metres and had hit Cenomanian age oil reservoirs, in line with pre-drill estimates, when doing so.

Drilled by the Saipem Scarabeo 3 semi submersible rig, the Aje 5 well also encountered Turonian pay consistent with other Aje field wells, however it said those zones will be completed at a future date.

Phase one of the planned field development program involves completing two wells as Cenomanian producers into a dedicated Fixed Production Storage and Offloading (FPSO) vessel, the Front Puffin, which will be installed later this year, after upgrades in Singapore are completed.

With Aje 5 completed by joint venture group Folawiyo Aje Services, re-entry and completion of legacy well Aje 4 is to follow, Jacka said.

Initial production of 10,000 gross barrels of oil per day (BOPD) is anticipated in late 2015 or early 2016 from the two phase 1 wells.

It is anticipated that future development (phase 2) will include two additional Cenomanian oil wells after production data from the phase 1 wells is incorporated into the overall interpretation.

Partners in the project are continuing to evaluate development options for a third phase in the Aje development project, which will target the Turonian gas and condensate zone.

OML 113 is operated by Yinka Folawiyo Petroleum with a 25% stake, while other joint venture partners include New AGE (24%), First Hydrocarbons Nigeria (16.8%),Energy Equity Resources (16.8%) and Panoro Energy (12.2%).