Baku, Azerbaijan, Aug.20
By Elena Kosolapova - Trend: Roxi Petrolem uncovered a larger oil-bearing interval at a deep well on the BNG Contract Area in Kazakhstan, the company said on August 19.
A third core sample of 18 meters has been successfully taken at a depth between 4,365 and 4,383 meters at well A5 of the BNG Contract Area, of which 1.6 meters was recovered.
"This shows the aggregate thickness of the gross oil-bearing interval extends to at least 51 meters," the company said.
Roxi now intends to determine the full extent of the oil-bearing interval at the well by drilling and logging rather than taking additional core samples. Once this has been completed and after delivery of additional equipment, Roxi intends to put Well A5 on flow test.
Well A5 is the first deep well on the BNG Contract Area, with a planned total depth of 4,700 meters.
The BNG Contract Area is located in the west of Kazakhstan 40 kilometers southeast of Tengiz on the edge of the Mangistau region, covering an area of 1,561 square kilometers, of which 1,376 square kilometers has 3D seismic coverage acquired in 2009 and 2010.
Roxi has a 58.41 percent interest in the BNG Contract Area.
Meanwhile, Well NK-31 on the Galaz Contract Area, which is targeting the Middle Jurassic on the main contract area, has now been drilled to a total depth of 2,642 meters and casing has been set to its full length.
Work is now under way preparing the well for logging to determine which intervals to perforate for further testing.
The Galaz block is located in the Kyzylorda region in central Kazakhstan. The contract area was extended on January 10, 2011 to 179 square kilometers and now includes significant exploration upside on the east side of the Karatau fault system, as well as the NW Konys development.
The operator is LGI, the Korean multi-national, which invested $34.4 million by way of loans into the project and paid a further $15.6 million in return for 40 per cent of the asset. A total of 30 square kilometers 3D seismic has been acquired and processed.
Roxi has a 34.44 per cent interest in the Galaz Contract Area.
Roxi Petroleum PLC is a Kazakhstan based oil and gas exploration and production company established in October 2006. Roxi's commercial rationale is to acquire and develop interests in oil and gas assets in Central Asia with a focus on Kazakhstan. Roxi's three principal assets are interests in the BNG, Galaz and Munaily Contract Areas.