Oil for pan-frying lamb chop
Any food oil will do, except extremely strongly flavored oils like sesame oil.

You may use olive oil if its flavor will compliment the dish, and is to your taste.  You could even use animal fat like clarified butter, lard, or bacon fat if you choose, but each of these will bring a unique flavor.

You may choose a neutral oil if you want less flavor influence from the oil. 

See also:
What is meant by &quot;neutral&quot; oils?