Exportation of oil to begin from Lagos offshore Aje field.
Lagos is set to begin exporting crude oil from its offshore Aje field, via the Front Puffin floating production, storage and offloading (FPSO) unit, by the end of August.
The oil field, located 24km off the Lagos coast, is operated by Nigerian firm Yinka Folawiyo Petroleum Company Limited (YFP) in partnership with Panoro Energy ASA, a Norwegian oil and gas exploration and development company.
When production began at the Aje field in May, it was expected to yield up to 40,000 barrels per day.
However so far production has been limited to a daily rate of about 7,000-8,000 barrels of oil, due to "mechanical issues and Nigerian regulatory approvals", according to YFP.
The Aje field is the only Nigerian output outside the oil hub in the southern Niger Delta.