Kazakhstan, Astana, July 22 /Trend, D. Mukhtarov /
An experiment conducted by the Kazakh company "Kaz Munai Gas Exploration and Production" (KMG EP) in the White Bear area of the North Sea was unsuccessful in many regards, a high-ranking Kazakh oil official told Trend on conditions of anonymity on Monday.
"It should be admitted that the experiment (conducted with BG) was unsuccessful and was not promising," said the official while responding to questions posed by Trend.
He reminded that, KMG EP entered the project in order to gain technical and corporate knowledge from the British BG Group.
"Fact is, only one person from KMG EP worked on the White Bear project permanently. What experience can we talk about?! ," said the official.
He reminded that the Kazakh company also has had successful projects abroad, in particular, in Romania.
"As it is known, "Kaz Munai Gas" has drilled wells at the depth of 5,000 meters on Focsani block in Romania and it has already been conducting testing there. The second well is also being drilled there at a depth of 6.5 thousand meters," the interlocutor said.
Nevertheless, as a matter of experience in the North Sea, the official believes that, it would be fruitful for the Kazakh company to focus on the exploration of on land fields in the republic and on achieving a stable output in already processed oil fields.
We should remember that the well drilled in the White Bear area in the North Sea appeared to be dry. The project cost Kaz Munai Gas $41 million.
"KMG EP said the dry well cost it 6.1 billion tenge ($41 million), an earlier "KMG EP press-release said.
It is also indicated in the report that expenses amounted to 6.6 billion tenge ($44 million) in 2013, compared to 1.3 billion tenge ($9 million ) in the same period of 2012.
KMG EP, BG Group and Maersk Oil North Sea (Denmark) launched the drilling of the first exploration well in the White bear block in spring of 2012. The partners of this project planned to drill only one well there in 2012. Further work depends on the results of the first well.
The licensed White bear area is located in the territory of 213 square kilometers and the depth of the water is approximately 90 meters there. It wasn't drilled any well there so far. Only several structures were mapped within the licensed area.
KMG EP got 35 percent a share in the project in August, 2010, by signing an agreement on joint exploration of the block with BG. Currently, BG Group holds a 45 percent share in the project and Maersk has had 20 percent share since the end of 2010. In accordance with the current license, the search and exploration stage will be completed in 2015. The White Bear block is the first official foreign project of KMG EP