Lagos - Lagos State will join the league of oil producing states in the country by next year, with the expected commencement of production from the Aje oil field, offshore Badagry, Punch reports.
The Yinka Folawiyo-led joint venture has completed development-planning studies of the Aje oil field and planned to proceed with field start-up arrangements immediately.
The partners said the Final Investment Decision (FID) are expected in the near future with first production expected at the end of 2015.
The aim of the first phase is to produce 10 000 barrels per day of oil from two target wells in the Oil Mining Lease 113 area.
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