Field development services
Oil production commenced from the Umusadege field in 2008 and has produced over 2 million barrels of oil as of beginning of 2010. The field was producing approximately 3,800 barrels per day in Q1, 2010. A development program will commence in July 2010 to fully develop and evaluate the field's production and reserve potential.
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 Nigeria oil and gas and oil service companies. 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.