New oil and gas discovery in Kazakh Fedorovsky Block

Baku, Azerbaijan, May 27

By Elena Kosolapova - Trend:

Light crude oil and gas was discovered in the Bashkirian tier's sediments of the Carboniferous Period in the Rozhkovskoye field in the Fedorovsky Block in Kazahstan, Hungarian MOL reported on May 26.

"Specifically, inflow of high quality light crude oil and gas with maximum flow rates of 1.9 million barrels per day and 6 million cubic feet per day (1 million barrels of oil equivalent per day) was recorded, respectively," the company said.

This flow rate was on a relatively small choke (24/64'' or 95 millimeters), and was produced while testing the Bashkirian reservoirs.

Previous exploration had targeted the Bobrikovskiy and Tournaisian horizons, thus the discovery of oil reserves in the Bashkirian had not been included in the previous resource and reserves assessment.

"Therefore the positive test results from the new Bashkirian discovery will significantly increase the field's reserve prospects," MOL said.

Quantitative evaluation of reserve is underway and MOL expects further increase following the results of further exploration and appraisal of the Fedorovsky Block.

The Fedorovsky block is located in Western Kazakhstan and owned by MOL (27.5 percent working interest), Kazakh KazMunaiGas Exploration Production (50 percent) and First International Oil Corporation (22.5 percent).