Caspian spuds first well
Posted: 26 September 2007
Caspian Oil & Gas reported the spudding of its first well in Central Asia’s Kyrgyz Republic with its new 650hp ZJ20 drill rig.
The well is the first of 11 planned for Caspian’s northern Fergana Basin licences.
The historic Fergana Basin, which stretches across Uzbekistan into the Kyrgyz Republic, has been producing oil for over 100 years but has seen only limited exploration using modern techniques.
The first well site is on the Ashvaz block (41deg 15’ 38.8” N and 72 deg 27’ 16.1’ E) near the town of Mailisu, and is planned to test the northern limits of the producing Mailisu III field.
The well will be drilled to a depth of about 800 metres and is expected to be completed within two weeks.
An earlier stratigraphic well drilled nearby intersected several metres of oil bearing carbonate reservoir.
The Mailisu III field has produced over 700,000 barrels of oil to date.
The spudding was attended by Mr Aidaraliev, Governor of the Jalal-Abad region and Ms Mamaseitova, Mayor of Mailisu who both enthusiastically acknowledged the contribution Caspian Oil & Gas have made to the local economy both financially and through the opportunity for local employment.
Caspian Oil & Gas have a joint venture with Santos, Australia’s second largest oil producer.
There are effectively two separate facets to the joint venture:
- a farmin to all of the licences, with Santos focussing on the deeper potential;
- and Caspian retaining the rights to the shallow potential of some of the northern Fergana licences.
The Ashvaz block is one of those northern licence areas where Caspian retains 100 per cent rights to any oil down to 1,000 metres.
Posted by Richard Price, Editor, EnergyME.com
Information supplied by companies or PR agencies who are responsible for content.
Send press releases to richard@energyme.com |
