Mart Resources, others Lose 73,000 Barrels on Umugini and Agip Pipelines

Mart Resources, others Lose 73,000 Barrels on Umugini and Agip Pipelines

- in OIL & GAS
470
0

Mart Resources and its co-venturers – Midwestern Oil & Gas Company Limited and SunTrust Oil Company Limited have revealed that its partners lost 73, 040 barrels of oil equivalent per day (bopd) on the Umugini pipeline and the Nigerian Agip Oil Company (NAOC) pipeline.

In an update for the Umusadege field production for May 2015, released last weekend, the combined net delivery of oil from the Umusadege field through the Umugini pipeline and the NAOC export pipeline was approximately 521,320 barrels in May 2015 before estimated combined pipeline and export facility losses.

However, the production figures plunged to 448,280 barrels after deduction of combined pipeline and export facility losses as estimated by Mart.

Highlights of the update showed that Umusadege field production averaged approximately 17,170 bopd during May 2015 based on calendar days and 20, 250 bopd based on production days.

Total production from the Umusadege field in May 2015 was approximately 532,340 barrels of oil, with 4.7 days as the aggregate calculated downtime.

The partners noted that there were shutdowns of theTrans Forcados export pipeline during May 2015 due to operational interruptions for general pipeline maintenance and repairs due to vandalism.

However, ongoing production from the Umusadege field was managed by the ability of the field operator to alternate production between the Trans Forcados and NAOC export pipelines.

Total net crude oil deliveries into the NAOC export pipeline from the Umusadege field for May 2015 were approximately 280,340 barrels before pipeline losses.

 

Facebook Comments

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

You may also like

Cryptocurrency: Safe Haven or Ticking Time Bomb in Assets Market?

By Lolade Odeyemi “Virtual currencies, perhaps most notably