Mart was one of the first foreign companies to establish partnerships with local Nigerian oil companies under the indigenous and marginal field programs, thus giving Mart strategic advantages due to the Company’s relationships and local industry knowledge. Mart is a strong supporter of the government’s initiatives to create indigenous Nigerian oil and gas as well as oil service companies.
Mart’s core focus is on acquiring and developing oil and gas assets in the prolific Niger Delta of Nigeria. Mart recognized a unique opportunity to participate with Nigerian indigenous companies in the development of low-risk, high-reward proven but undeveloped oil and gas fields remaining onshore and in the shallow waters of Nigeria. The Niger Delta is one of the most prolific hydrocarbon basins in the world where Mart, Midwestern Oil and Gas Co. Plc. (the Operator of the Umusadege field) and Suntrust Oil Company Ltd., are successfully developing the Umusadege Oil Field located onshore in Delta State.
Oil production commenced from the Umusadege field in 2008 and has produced over 3 million barrels of oil as of September, 2011. The field production increased to approximately 10,525 barrels per day by May, 2011. Our development program continually focuses on developing and evaluating the field’s production and reserve potential.
Mart looks forward to working with local Nigerian oil and gas companies in fulfilling the objectives of these important initiatives. Mart is evaluating new proven undeveloped oil and gas field acquisition opportunities with Nigerian companies with an objective of increasing production and reserve base.
Latest Mart Resources News
Mart Resources, Inc. (TSX:MMT) and its co-venturers, Midwestern Oil and Gas Company Plc. (Operator of the Umusadege field) and SunTrust Oil Company Limited are pleased to provide the following update on Umugini pipeline operations. Oil flow has commenced through the 51-kilometer long Umugini pipeli... Thursday, December 4, 2014
Mart Resources, Inc. (TSX:MMT) and its co-venturers, Midwestern Oil and Gas Company Plc. (Operator of the Umusadege field) and SunTrust Oil Company Limited are pleased to provide the following updates on Umusadege field drilling and flow testing operations. UMU-12 Initial Well Flow Test Results Th... Tuesday, October 28, 2014
Mart Resources, Inc. (TSX:MMT) announce that it is a member of a consortium (the "Consortium") that has entered into an assignment agreement (the "Assignment Agreement") with The Shell Petroleum Development Company of Nigeria Limited ("SPDC"), Total E&P Nigeria Limited... Wednesday, October 22, 2014
Mart Resources, Inc. (TSX:MMT) and its co-venturers, Midwestern Oil and Gas Company Limited and SunTrust Oil Company Limited ("SunTrust") are pleased to provide the following update regarding the Umugini pipeline in Nigeria. Umugini Pipeline Update The 51-kilometer Umugini pipeline tie-i... Friday, October 10, 2014
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CanOils is pleased to announce the release of its new free report, Canada's Top 100 Oil & Gas Companies, which has been compiled using Q2 2014 canadian oil & gas production results from all TSX and TSX-V listed Canadian oil and gas companies in the CanOils database. Oil Sands Maintenance has a ... Tuesday, September 30, 2014