Mart Resources Inc MAUXF

NR

[bobby1231]

June 20, 2013 08:50 ET

Mart Resources, Inc.: Umugini Pipeline Construction Status Update

 

- Clearing of the right of way for the Umugini pipeline, stringing, welding and field joint coating of the pipeline has been completed on approximately 17 kilometers of the 51 kilometer pipeline.

 

 

CALGARY, ALBERTA--(Marketwired - June 20, 2013) - Mart Resources, Inc. (TSX VENTURE:MMT) ("Mart" or the "Company") and its co-venturers, Midwestern Oil and Gas Company Plc. (Operator of the Umusadege field) and SunTrust Oil Company Limited are providing the following update on the Umugini pipeline project.

Umugini Pipeline and Trans Forcados Export Pipeline

Construction of the Umugini pipeline is progressing from the location near the Umusadege field. Clearing of the right of way, stringing, welding and field joint coating of the pipeline has been completed on approximately 17 kilometers of the 51 kilometer pipeline. The pipeline has two segments. The first segment is from the Umusadege field south to the Ogini flow station on OML 26. This section is 22 kilometers in length and is where the 17 kilometers of pipeline construction has been completed. The second segment is from the Ogini flow station east to the Eriemu flow station. This section of the pipeline is being constructed along an existing right of way and will be twinning the existing pipeline currently operating between the Ogini flow station and the Eriemu flow station. Construction of the Umugini pipeline by Mart and its co-venturers is proceeding in accordance with plans to provide a second independent export pipeline for Umusadege field production. The pipeline contractor will soon begin working from a second location near the midpoint between Umusadege and the Trans Forcados export pipeline. The Umugini pipeline's gross transportation capacity will be approximately 45,000 barrels per day and it will connect the Umusadege field to the Trans Forcados export pipeline. The Trans Forcados export pipeline will deliver crude oil from Umusadege field to the Forcados export terminal operated by Shell. Negotiations regarding the crude handling agreement with the export pipeline and terminal operators are nearing completion