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British Max Petroleum strikes oil in Kazakhstan

11 september 2013, 14:09
0
©RIA Novosti
©RIA Novosti
British Max Petroleum PLC running oil exploration and production projects in Kazakhstan has stricken oil at Sagiz West and Uitas fields in Atyrau oblast in western Kazakhstan, Tengrinews.kz reports citing the official website of the Kazakhstan Stock Exchange (KASE).

SAGZ-5, a 1.4km deep vertical appraisal well at West Sagiz field, stroke a 16m oil formation with 19m interval at the depth of 1,269-1,288 meters. The reservoir is of good quality with porosity within 15-25 percent.

The company will set a production string in the well and after obtaining permits and approvals from the authorities, it will start pilot production from the well. The ZJ-30 drilling rig will then be moved for drilling of SAGZ-6 appraisal well at West Sagiz field.

It is not the only discovery that the British company has made: UTS-13 appraisal well at Uitas field reached the total depth of 208 meters and discovered a 8m oil formation at the Cretaceous level. The collector is of excellent quality. The shallow Albian stage of the well has weak visual oil showings at the depth of 46-50 meters. The company plans to complete the well’s development and then switch it to pilot production shortly.

Max Petroleum also reported that its UTS-14 appraisal well at Uitas field successfully reached the target depth. The results will be unveiled later.

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