LONDON (Alliance News) - MX Oil PLC Monday said its partners offshore Nigeria have finished drilling the Aje-5 well on the OML113 licence which will be hooked up to begin production and said it has re-entered the Aje-4 well.
MX Oil noted an announcement from its partners on the licence, Jacka Resources Ltd and Panoro Energy ASA, which said the subsea tree has been installed on the well and suspended ready to be connected to the oil production facilities before production begins.
The subsea tree monitors and controls the production of a subsea well and is fixed to the wellhead.
The drilling rig that was used on Aje-5 has now been moved to re-enter Aje-4 as the partners prepare to make that well a producing one as well.
The moorings, turret buoy, the production manifold, the umbilical termination assembly, and the umbilicals and flowlines for the floating production, storage and offloading vessel have all been delivered and the vessel itself is expected to set sail toward the project from Singapore six weeks before it is due to be installed at the project site.
"We are very pleased with the progress of our investment in the proven Aje field. With first class teams in place both in Nigeria and Mexico, MX Oil is on course to become a multi-asset oil and gas investment company in the very near term, and I look forward to providing further updates in due course," said Chief Executive Stefan Oilivier.
Panoro Energy holds a 6.5% stake in the OML113 licence whilst MX Oil has a 5% stake, with the remainder being held by the operator Jakca Resources.
By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.