Yinka Folawiyo Petroleum Co. Ltd (YFP), a Nigerian oil firm, has revealed that it has started oil production from an offshore field in Lagos.
YFP did not disclose the volume of current output from the field but said the company has capacity to produce 40,000 barrels per day, the Vanguard reports.
“Yinka Folawiyo Petroleum Co. Ltd (YFP) is pleased to announce that it has commenced production of crude oil from its Aje field located in block OML 113 offshore Lagos,” it said late Tuesday.
“Oil produced from the Aje field will be stored on the Front Puffin which has production capacity of 40,000 barrels of oil per day and storage capacity of 750,000 barrels,” it added in a statement.
This will be the first output outside Nigeria’s oil hub in the Niger delta.
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