Kazakhstan Oil Discovery

abarrelfullabarrelfull wrote on 07 May 2012 08:10

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24 July 2000

The following press release was issued on 24 July 2000 by OKIOC in Kazakhstan.
Atyrau, Kazakhstan (24 July 2000) - The Offshore Kazakhstan International Operating Company (OKIOC) today announced a discovery at the Kashagan East 1 well, located 75 kilometres south-east of Atyrau in the north east Caspian Sea.

This represents the first discovery on the Kazakhstan shelf. The discovery well encountered an oil-bearing interval in the Palaeozoic Carbonates below 4,000 metres.

Two tests have been planned, the first of which in the lower section flowed at a rate of up to 600 cubic meters (3,775 barrels) of oil a day and 200,000 cubic meters (7 million cubic feet) of gas a day on a 32/64" choke. Oil gravity measured at the wellsite ranged between 42 and 44 degrees API. The well was drilled in 3 metres (10 feet) of water to a total depth of nearly 5,200 metres (16,400 feet).

OKIOC General Manager Keith Dallard said: "OKIOC and its Shareholders are encouraged by the data we have received to date and we hope that continued exploration and appraisal drilling will further support these initial results. We will continue to analyse the information obtained during the drilling and testing programme to learn more about the characteristics of the hydrocarbons that we have encountered and the nature of the Kashagan field."

Kashagan East 1 is the first well drilled by OKIOC. Drilling activities at Kashagan West, a second exploration location 40 kilometres from the Kashagan East location, will be commenced in the fourth quarter of the year.

OKIOC is conducting an exploration programme in the Northeast Caspian Sea on behalf of a consortium of nine international shareholders. OKIOC shareholders include subsidiaries of ENI, BG, BP, ExxonMobil, Inpex, Phillips Petroleum, Shell, Statoil and TotalFinaElf.

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