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More oil discoveries in Lagos soon

FOLLOWING the announcements of oil discoveries in Lagos offshore, experts are of the opinion that more oil discoveries may be made in the state in near future.

An oil and gas expert, who also doubles as the Director, ANDORA Technologies Ltd, Mr Bayo Akinpelu, told the Nigerian Tribune on Thursday that it was possible for more oil to be discovered in commercial quantities in Lagos.

A source within the Department of Petroleum Resources (DPR), who pleaded anonymity, assured the Nigerian Tribune that it was a matter of time before another oil exploration firm announced new oil discoveries in Lagos.

“I can reliably inform you that another leading indigenous company may soon announce oil discoveries from Aje oil assets located on Oil Mining License (OML) 113. It is difficult to predict the time, but it may surely come to past soon,” he said.

OML 113 is located adjacent to the OPL310 area, in which oil discoveries were announced on Wednesday. OML113 hosts the Aje oil and gas field, which is estimated to have contingent resources of nearly 200 millon barrels of oil equivalent.

However, Nigerian Tribune independently gathered that the OML113 licence interest holders include Lekoil, Yinka Folawiyo Petroleum (Operator), Vitol Exploration Nigeria, Chevron and P.R Oil and Gas.