Tethys announces successful results at exploration well in Kazakhstan

Baku, Azerbaijan, March 7
By Elena Kosolapova - Trend:
Tethys Petroleum Limited, the oil and gas exploration and production company focused on Central Asia and the Caspian Region, announced on March 7 that AKK17, the first shallow gas exploration well of its 2014 programme has been successful.

"Analysis of data from the well indicates it to be similar to the AKK15 well which tested gas at a stable rate of approximately 7 million cubic feet (195,000 cubic metres or 1,167 barrels oil equivalent) per day, and the AKK17 appears likely to test at a comparable rate," the company said.

The AKK17 well, drilled to a depth of 653 metres (2,142 feet) some 2.2 kilometres (1.4 miles) NE of the AKK15 well, encountered a 4 metre (13.1 feet) interval of gas bearing Tasaran sand with an average porosity of 31 percent. This compares to the AKK15 well which also encountered a 4 metre (13.1 feet) gas-bearing interval of similar quality, and which will be tied in as part of this years programme.

The AKK17 well will be flowed as part of a testing programme to be carried out after further wells have been drilled. The drilling rig has now been mobilised to the second shallow gas exploration well location, AKK18, and drilling should commence within the next week.

The current shallow gas programme includes the drilling of up to 10 new exploration wells, based on the latest seismic data, as well as workovers and tie-ins, and is targeting a three fold increase in gas production by the beginning of 2015. Current production is some 9.2 million cubic feet (324,000 cubic metres) per day. At this time it is also hoped that negotiations of a new gas supply contract potentially to the Chinese market have been concluded now that the gas trunkline connecting to the Central Asia - China gas export system has been commissioned.