Petroleum Africa
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Monday, November 15, 2021
ADM Energy has provided more information on the progress of the Aje Joint Partners to explore the further development of the Aje Field in Nigeria and the production of a field development plan (FDP) as well as an update on the assessment of the Barracuda Field.
The Partners continue to work on a final investment decision on a new multi-phase development plan for the Aje Field which could significantly increase production levels. The FDP for the initial phase is primarily focused on the development of two new oil wells and a gas injector well which initial appraisals indicate could increase gross field production to 9,000 barrels of oil and liquids per day. These wells are intended to be tied-back to the existing Floating Production Storage and Offloading Vessel (FPSO), via a subsea manifold located at the present drill center.
As part of the FDP, ADM’s technical team has examined the feasibility of using the existing infrastructure available, where possible, for the supply of the two new subsea wells Aje-6 and Aje-7. Based on the findings of our review, which has been passed to the Partners’ technical committee, the Company’s view is that the existing subsea hardware infrastructure are able to be used for the new wells, subject to a confirmatory integrity inspection. In addition, the analysis concluded that any potential topside cost and control system hardware compatibility issues would also be reduced if the same type of subsea control module as on the existing tree is used for the proposed wells Aje-6 and Aje-7. The ability to use the existing infrastructure should de-risk the expansion plans at Aje and would be expected to provide significant cost savings compared to installing additional subsea infrastructure.
As announced on September 30, ADM’s technical team continues to assess the draft of a preliminary technical report from the Competent Person for the Barracuda Field. As reported previously, the report is still to be finalized pending further technical appraisal and, therefore, ADM will only be able to finalize the proposed development plans for Barracuda once it is completed. The company expects to provide a further update to the market before year end.
Osamede Okhomina, CEO of ADM Energy plc, said: “The Field Development plans at Aje are advancing and it is pleasing that our latest findings indicate that the existing infrastructure can be used to supply the two new wells, lowering the cost of development without impacting the expected potential increase in production. With Panoro and PetroNor agreeing a further one-month extension to the end of November for the Aje transaction, we await the conclusion of that deal which, once finalized, is expected to accelerate Aje’s development.”
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