Search results for: OML 113

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  • 16 September 2013

    Lekoil today announced it has made a payment of $3 million as part of the previously announced deal under which, Lekoil will buy of a 6.502 per cent participating interest in OML113 offshore Nigeria for a consideration of US$30 million. Lekoil and Panoro have agreed that the Company will fund the escrow with the balance of the […]

  • 13 May 2014
    Business & Finance, Equipment, Operations & Maintenance

    Panoro has announced the completion of a 3D seismic survey over OML 113 license in Nigeria. The Polarcus vessel MV Polarcus Nadia started data acquisition on March 24, 2014 and completed shooting on May 9, 2014. The survey was acquired in conjunction with the neighbouring OPL 310 with Afren and covered an area of approximately 1045 km2 in the OML […]

  • 21 March 2014

    Panoro Energy ASA has announced that a Field Development Plan (FDP) to develop the Aje Field has been approved by the Department of Petroleum Resources (DPR) in Nigeria.

  • 13 May 2014

    Panoro has announced the completion of a 3D seismic survey over OML 113 license in Nigeria.

  • 5 December 2016

    Panoro Energy has initiated legal proceedings and intends to initiate arbitration following a disagreement with its joint venture partners in license OML 113 off Nigeria, which contains the Aje field, regarding a cash call default notice.  On December 2, 2016, Panoro informed of its intention to initiate arbitration and legal proceedings against its joint venture partners in OML […]

  • 6 December 2016

    Panoro Energy has filed a request for arbitration against its joint venture partners in OML 113 off Nigeria due to a cash call notice for a new well on the Aje field.  Panoro, through its fully owned subsidiary Pan Petroleum Aje Limited (PPAL), holds 6.502% participation interest in OML 113. The partners in the license are […]

  • 5 December 2019

    Oslo-listed oil firm PetroNor has signed an investment agreement with Nigeria’s Yinka Folawiyo Petroleum YFP setting a path forward for the future development of the YFP-operated Aje field in Nigeria’s OML 113 offshore license. The two companies will create a joint venture firm named Aje Petroleum to focus on the revitalization and further development of OML […]

  • 27 August 2018

    Yinka Folawiyo Petroleum has received consent from the Nigerian Minister of Petroleum Resources for the renewal of the OML 113 license.

  • 4 February 2019
    Project & Tenders

    Joint-venture partners in the OML 113 permit offshore Nigeria will decide on supporting Phase 2 of the Aje development following the completion of technical work on the field.

  • 3 November 2017
    Business & Finance

    Pan Petroleum Aje Limited (PPAL), subsidiary of London-based E&P company Panoro Energy, has entered into a binding agreement with the joint-venture partners in the OML 113 off Nigeria, to, inter alia, suspend certain ongoing litigation and arbitration proceedings among the partners. The OML 113 holds the Aje field, operated by Yinka Folawiyo Petroleum. The other members […]

  • 23 January 2020

    ADM Energy, an oil and gas investing company formerly known as MX Oil, is preparing to expand its portfolio of assets in Nigeria and West Africa.

  • 2 December 2016

    London-based independent E&P company Panoro Energy is currently in disagreement with its joint venture partners in OML 113 license off Nigeria, which contains the Aje field. The company intends to initiate arbitration and legal proceedings ‘to protect its interests.’ The company, through its fully owned subsidiary, Pan Petroleum Aje Limited (PPAL), holds 6.502% participation interest […]

  • 30 December 2011
    Business & Finance

    Providence Resources P.l.c., an Irish based oil and gas exploration company, confirmed today that it has closed its transaction to divest its Nigerian subsidiary, which holds its interest in OML 113 offshore Nigeria to Jacka Resources Limited, (“Jacka”) an ASX-listed company. Under the terms of the transaction, the total consideration payable by Jacka is $16 […]

  • 4 December 2015
    Business & Finance

    Norway’s Ocean Installer has been awarded a contract for field development work in Nigeria for Folawiyo Aje Services Limited. In a statement on Friday, Ocean Installer said it would perform the offshore construction of the Aje Ph1 project off the coast of Nigeria. The scope of work includes mooring buoy installation and hook up, flowline […]

  • 27 July 2015
    Exploration & Production, Project & Tenders

    Panoro Energy ASA, the independent E&P company with assets in Nigeria and Gabon, has announced that drilling has started on the Aje-5 production well on the OML 113 license, offshore Nigeria. The well is being drilled with the Saipem Scarabeo 3 semi-submersible drilling rig. Panoro entered into a rig contract with Saipem in June 2015. […]

  • 13 July 2015
    Business & Finance

    MX Oil plc, an oil and gas investment company, has agreed to invest in an indirect, non-operated, 5% revenue interest in the OML 113 licence, offshore Nigeria, which includes the Aje Field, a development stage project with proven, flow tested discoveries where production is expected by January 2016. MX Oil said that this investment is […]

  • 4 May 2016
    Operations & Maintenance

    Panoro Energy together with the operator of OML 113, Yinka Folawiyo Petroleum Company, announced the start of the first oil production from the Aje field, offshore Lagos, Nigeria. Subsea installation activities had been underway at Aje, located in OML 113, since January and were completed in early March ready for the hook-up of the Front Puffin FPSO, […]

  • 22 October 2019
    Business & Finance, Infrastructure

    Panoro Energy is exiting Nigeria following an agreement to sell all of its interest in OML 113, offshore Nigeria, to PetroNor. On the other hand, PetroNor will take over a lead technical and management role for the project to progress it to the next phases.

  • 3 January 2018

    Panoro Energy has settled a dispute with its joint-venture partners in the OML 113 offshore Nigeria related to drilling of new development wells on the Aje field. 

  • 12 June 2013
    Business & Finance

    Panoro Energy ASA’s has agreed in principle the terms of sale with an undisclosed buyer for its 6.502 % participating interest in the OML 113 license offshore Nigeria, which includes the Aje field, for a total consideration of USD 30 million saction to be paid in cash upon closing. Execution of the agreement will take place subject to waiver of pre-emption […]

  • 12 April 2012
    Business & Finance

    Providence Resources P.l.c., the London (AIM) and Dublin (ESM) listed oil and gas exploration and production company, has confirmed that it has received the final US$ 6 million tranche payment from Jacka Resources Limited, an ASX-listed company, for the sale of its Nigerian interest, OML 113 which includes the Aje oil and gas field. Under […]

  • 8 October 2014
    Business & Finance, Project & Tenders

    Panoro Energy ASA, together with the Joint Venture partners, has taken a Final Investment Decision to develop the Aje Cenomanian oil reservoir in the OML 113 licence in Nigeria.   The Aje Field Development Plan was submitted to Department of Petroleum Resources earlier this year, and approval to develop Aje as proposed in the FDP […]