Lagos state joins Nigeria’s oil producing state

yfoYinka Folawiyo Petroleum Company Limited, a wholly-owned indigenous firm and operator of the OML 113 offshore Lagos, on Tuesday announced the commencement of production of crude oil from an offshore field located in OML 113 in the western part of Nigeria in the Dahomey Basin.

The field is situated in water depths ranging from 100 to 1,000 metres and is about 24 kilometres from the coast. It contains hydrocarbon resources in sandstone reservoirs in three main levels – a Turonian gas condensate reservoir, a Cenomanian oil reservoir and an Albian gas condensate reservoir.

The Chairman of Yinka Folawiyo Petroleum Company Limited, Mr. Tunde Folawiyo, was quoted to have said, “The attainment of this milestone is indeed a laudable achievement not just for the us, but for the Nigerian oil and gas industry as a whole and indeed Lagos State, which can now be addressed as an oil-producing state.”

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