Mart Resources provides operations and production update
Mart Resources, Inc. and its co-venturers, Midwestern Oil and Gas Company Plc. and SunTrust Oil Company Limited are providing the following updates on Umusadege field production for May 2014 and other operations.
May 2014 Production Update
Umusadege field production during May 2014 averaged 10 237 bpd of oil. Aggregate Umusadege field downtime during May 2014 was approximately 6 days due mainly to a shutdown of the Nigerian Agip Oil Company Limited export pipeline resulting from a lack of storage capacity at the Brass River export terminal due to export shipment delays, combined with other minor operational interruptions. There were no full down days during the month. The average field production based on producing days was 12 654 bpd of oil in April 2014.
Total net crude oil deliveries into the NAOC export pipeline from the Umusadege field for May 2014 were approximately 322 086 bbls before pipeline losses. Based upon the 12-month rolling average rate of pipeline and export facility losses from May 2013 to April 2014 of 22.97%, Mart estimates pipeline and export facility losses for May 2014 to be approximately 73 971 bbls. Using this estimated pipeline and export facility loss volume, the total net crude deliveries into the NAOC export pipeline from the Umusadege field for May 2014 less estimated pipeline losses is 248 115 bbls.
Pipeline and export facility losses reported by NAOC and allocated to Mart and its co-venturers for April 2014 were 71 643 bbls, or 28.8% of total crude oil deliveries into the export pipeline for that month. Pipeline and export facility losses allocated to Mart and its co-venturers from January to April 2014 have averaged 14.8% of total crude oil deliveries into the export pipeline for 2014.
Umugini Pipeline Update
The Umugini pipeline construction is nearing completion. The first 49 km of thepipeline have been completed and backfilled. Stringing of another 2 km of pipe has beencompleted and welding, coating, radiograph testing has been completed on approximately 1 kmof this 2 km section. The installation of a fibre optic cable that is part of the leak detectionsystem has been completed on 50 km of pipeline. A 23 km section of the pipeline has beenfully hydro-tested and preparation for hydro-testing on the remaining section is in progress.
Procurement of materials and equipment required to complete the pipeline pumping, monitoringand control facilities has been completed in preparation for hook-up and commissioning of thepipeline. Midwestern, which is managing construction of the Umugini pipeline, continues toestimate that pipeline construction will be completed by the end of June 2014. Pipelinecommissioning will occur following completion of pipeline construction and installation ofpipeline pumping, monitoring and control facilities.
Adapted from press release by Hannah Priestley-Eaton
Read the article online at: https://www.worldpipelines.com/business-news/19062014/mart_resources_provides_operations_and_production_update/
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