Baku, Azerbaijan, April 24
By Elena Kosolapova- Trend:
Tethys Petroleum Limited, the oil and gas exploration and production company focused on Central Asia and the Caspian Region, announced the success of Well AKK19 in Kazakhstan on April 24.
Well AKK19 is the third shallow gas exploration well of Tethys' 2014 programme.
"Analysis of data from the well indicates it has a pay zone twice as thick as the AKK15 well which tested gas at a stable rate of approximately 195,000 cubic metres or 1,167 barrels oil equivalent per day, and the AKK19 well is anticipated to test at significantly more than that rate," the company said.
The AKK19 well was drilled to a depth of 800 metres some 5 kilometres south-east of AKK15 and encountered an 8 metre interval of gas bearing Tasaran sand with an average porosity of 30 percent. This compares favourably to the AKK15 well which encountered a 4 metre gas-bearing interval of similar quality, and which will be tied in as part of this year's programme. The AKK19 well will now be cased and prepared for production testing later in the year in conjunction with the AKK17 and AKK18 wells in order to be cost effective with resources.
Tethys' 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.
Tethys is focused on oil and gas exploration and production activities in Central Asia and the Caspian Region. This highly prolific oil and gas area is rapidly developing and Tethys believes that significant potential exists in both exploration and in discovered deposits.