A Review of the Nigerian Energy Industry

Umusadege averages 7,439bpd in July

Crude oil drips from a valve at an oil well operated by Venezuela's state oil company PDVSA in Morichal28 August 2014, Sweetcrude, Lagos – Canada-based Mart Resources Incoporated says production from its Ngerian core strategic asset Umusadege field during July 2014 averaged 7,439 barrels of per day, bopd.

The company also said aggregate Umusadege field downtime during the month was approximately 11.7 days due to shutdowns of the Nigerian Agip Oil Company Limited, NAOC, export pipeline, resulting from operational interruptions due to general pipeline repairs and maintenance.

There were five full down days during the month, Mart Resources further stated, adding that the average field production based on producing days was 11,958 bopd in July 2014.

Total net crude oil deliveries into the NAOC export pipeline from the Umusadege field for July 2014 were approximately 210,566 bbls before pipeline losses.

Based on the 12-month rolling average rate of pipeline and export facility losses from July 2013 to June 2014 of 22.35%, Mart estimates pipeline and export facility losses for July 2014 will be approximately 47,052 bbls.

Using this estimated pipeline and export facility loss volume, Mart estimates that the total net crude deliveries into the NAOC export pipeline from the Umusadege field for July 2014 less estimated pipeline losses will be 163,514 barrels.

Pipeline and export facility losses reported by NAOC and allocated to Mart and its co-venturers for June 2014 were 55,087 bbls, or 27.0% 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 June 2014 have averaged 17.8% of total crude oil deliveries into the export pipeline for 2014.

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