M a r k e t N e w s

Mart Resources restores pipeline, to boost Forcados exports

Posted on : Thursday, 16th October 2014

 

 
Mart Resources and co-venturers, Midwestern Oil and Gas Company and SunTrust Oil Company has confirmed completion of repairs on the damages Umugini pipeline in Rivers State.
 
The partners in a statement issued at the weekend, stated that the 51-kilometre Umugini pipeline tie-in at the Eriemu flow station and other start-up activities have been successfully completed with required line fill process to ship oil to the Trans Forcados crude oil pipeline and export terminal also successfully completed at the end of September.
 
According to the statement, the pipeline was deemed ready for crude oil injection and commencement of oil flow is expected to occur following the receipt of the formal authorization of oil injection by the operator of the Trans Forcados export pipeline.
 
The company also provided an update on drilling at the Umusadege oil field located in Delta State, Nigeria, noting that drilling and completion of the UMU-12 well had been completed to a total depth of 10,000 feet with the average oil column measuring approximately 40 feet. Clean up and testing will commence once the rig has been moved off.
 
The company intends to move the aforementioned rig to the new UMU East drilling pad to drill UMU-13, an exploration well expected to appraise the eastern prospect on the license.
 
On production, Mart said Umusadege field production during August 2014 averaged 7,847 bopd. Aggregate Umusadege field downtime during was put at approximately 12.0 days due to shutdowns of the Nigerian Agip Oil Company Limited export pipeline resulting from operational interruptions due to general pipeline repairs and maintenance.
 
“There were eight full down days during the month. The average field production based on producing days was 12,816 bopd in August 2014.
 
“Total net crude oil deliveries into the NAOC export pipeline from the Umusadege field for August 2014 were approximately 243,143 bbls before pipeline losses,” it stated.
 
Based upon the 12-month rolling average rate of pipeline and export facility losses from August 2013 to July 2014 of 21.44%, Mart estimates pipeline and export facility losses for August 2014 will be approximately 52,131 bbls. Using this estimated pipeline and export facility loss volume, Mart estimated that the total net crude deliveries into the NAOC export pipeline from the Umusadege field for August 2014 less estimated pipeline losses will be 191,012 bbls

Source : energy mix report
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