Friday, 29 October 2010

Max Petroleum finds oil pay in Kazakhstan

Max Petroleum has said that that electric logs and oil shows observed during drilling indicate potential oil pay zones in the UTS-1 exploration well on the Uytas prospect in Block A in Kazakhstan.

The electric logs and oil shows suggests potential pay zones in the well, including 8m of estimated net oil pay in the Jurassic formation between 331m and 339m in depth, and 6m of estimated net oil pay in the Triassic section between 785m and 800m in depth. The company said that the well has reached the total depth of 827m.

The electric logs and pressure data also indicate an estimated 16m of net oil pay in the shallower Cretaceous section as part of a potentially significant 86m oil column ranging from 60m to 146m.

The company expects to commence the testing of the well in approximately one month using a workover rig upon receipt of the required government approvals. Following the running of the production casing in the well, the ZJ-30 drilling rig will move on to drill the Sekir West prospect in Block A.

“We look forward to testing all three zones in order to verify commerciality of what we believe could be a significant post-salt discovery,” said executive co-chairman James A. Jeffs.

For more news and expert analysis about the Caspian region, please see Caspian Focus.

© 2010 Menas Associates

No comments:

Post a Comment