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Crude Production Lagos joins list of oil producing states

The oil firm also added that this is the first oil production in the South-West, and also the first outside the Niger-Delta.

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Yinka Folawiyo Petroleum Company Limited (YFP) offshore platform. play

Yinka Folawiyo Petroleum Company Limited (YFP) offshore platform.

(YFP)

An indigenous firm, Yinka Folawiyo Petroleum Company Limited (YFP), has announced the commencement of crude oil productions in Lagos state.

The firm operates the Oil Mining Lease (OML) 113, which is located in Lagos, with its partners- New Age Exploration Nigeria Limited, EER (Colobus) Nigeria Limited, Pan Petroleum (Panoro Energy) Aje Limited and PR Oil & Gas Nigeria Limited.

This feat has put Lagos state in the prestigious list of oil producing states.

According to Punch, YFP said this achievement is coming 25 years after a lot of exploratory drilling in the Aje fields.

The oil firm also added that this is the first oil production in the South-West, and also the first outside the Niger-Delta.

The chairman of YFP, Mr. Tunde Folawiyo in a statement said “The attainment of this milestone is indeed a laudable achievement not just for the YFP, 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.”

He  also said “We are very proud of and appreciate the efforts, determination and commitment of the entire Aje project team, past and present; the constant support from our regulators, the DPR and Ministry of Petroleum; and our financiers. We believe this crucial support will spur us on to even greater achievements.”

Yinka Folawiyo Petroleum Company Limited (YFP),  is one of the leading few indigenous privately owned and managed Oil Company incorporated in Nigeria in 1982 as an integral member of the Yinka Folawiyo Group of Companies.

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