Good news for the people of Lagos State in Nigeria as the state has joined the list of oil-producing states in the country. On Tuesday, announcement of the break of the Lagos-Aje oil field, located at Oil Mining Lease 113, Dahomey, was made.
The oil field is located in water depth between 100 to 1,000 metres and 24 kilometres away from the coast. The oil wells 1 and 2 have been discovered since 1997 and 1998 respectively.
Through partnership with other companies, Aje oil field was able to achieve their aim. The Chairman of Yinka Folawiyo Petroleum Company said that plans are already set to ensure effective storage.
Irrespective of the decline in oil prices, this is still a landmark achievement for Aje Oil, Lagos State, and Nigeria.