New discovery in Kazakh Rozhkovskoye field

Baku, Azerbaijan, May 13

By Elena Kosolapova - Trend:
Kazakh KazMunaiGas Exploration Production Joint Stock Company announced a new discovery in the Bashkirian tier's sediments of the Carboniferous period in the Rozhkovskoye field on May 13.

"Inflow of light dry crude oil and gas with maximum flow rates of 1,900 barrels of oil equivalent per day and 6 million cubic feet per day, respectively, with 24/64" (9.5 millimeters) choke, was produced while carrying out tests in reservoirs of the Bashkirian period at the U-24 well drilled in 2013 in the north-east wing of the field. Previous exploration at this part of the field targeted hydrocarbons in the Bobrikovskiy and Tournaisian horizons," the company said.

Oil reserves of the new discovery have not been included in Miller & Lents Ltd.'s 2013 year end reserve assessments. Positive test results from the new Bashkirian deposit increase the prospects of growing field's reserves. A quantitative evaluation of reserves growth will occur following the results of further exploration.

KMG EP proven plus probable liquids hydrocarbon reserves of Rozhkovskoye field increased from 5.4 million tonnes in 2012 to 7.9 million tonnes in 2013, according to technical audits carried out in accordance with international standards. Production at Rozhkovskoye field is due to commence in 2017.

Ural Group Limited is exploring the Rozhkovskoye field, and holds a 100 percent stake in Ural Oil and Gas LLP which owns the exploration license for the Fyodorovskiy block in the Zelenovsk district of Western Kazakhstan, 70 kilometers east of the city of Uralsk. In 2011, KMG EP acquired a 50 percent stake in Ural Group Limited from Exploration Venture Limited.

KMG EP is among the top three Kazakh oil and gas producers. The overall production in 2013 was 12.4 million tonnes (an average of 251,000 barrels of oil per day) of crude oil, including the Company's share in Kazgermunai, CCEL and PKI. The company's total consolidated volume of proved and probable reserves including shares in the associates, as at the end of 2013 was 200 million tonnes (1.5 billion barrels), out of which 148.8 million tonnes (1.1 billion barrels) relates to Ozenmunaigas, Embamunaigas, and Oil and Gas LLP (Rozhkovskoye field, Fyodorovskiy block).

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