Caspian Oil & Gas drilling results and plans
Posted: 3 July 2008
Drilling Details
After encountering live oil shows, Mailisu III Well #5 has been completed and wireline logs run.
A cement bond log has indicated a poor bond between the cement and the casing and remedial work is required before a production testing.
Equipment to rectify this and a similar cementing problem in Mailisu III Well #2 is being sourced and a review of available cementing contractors is in progress to avoid similar problems in future.
An upgrade of the Caspian rig has commenced to bring it up to the standard required to drill deeper wells.
As previously advised, Caspian is in discussions with JSC South Petroleum Company (70 per cent owned by Santos) with respect to the possibility of drilling a number of exploration wells to depths of up to 2,000m on the Sok and Tuzluk licence areas which are operated by SPC.
While the arrangement is still under negotiation and there is no guarantee that a deal will be finalised, this opportunity, which would see Caspian receive a share of Santos’s notional entitlement to SPC cash flow from a successful development, is considered sufficiently attractive for Caspian to carry out the rig upgrade in anticipation of a favourable outcome.
Timing issues dictate that Caspian be in a position to start drilling by October if an arrangement is concluded with Santos.
It is planned to take a break from the rig upgrade work to drill the West Mailisu #1 well later in July to complete the initial appraisal program for the Mailisu III oil field before the rig is deployed to the southern prospects.
West Mailisu #1 will test the presence of oil on the western flank of the Mailisu III structure, some 3km west of earlier drilling.
This is considered to be a higher risk well, but if successful, it would significantly expand the resource potential of the field.
Caspian is arranging for a contractor to continue drilling shallow wells on its East Mailisu, Mailisu III and Charvak licence areas from September.
Well Testing
Mailisu Well #4 is producing at approximately eight barrels of oil per day from initial pump testing.
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 |
