13th Mar 2026 15:41
(Alliance News) - Caspian Sunrise PLC on Friday said it is increasing operational activity as winter conditions ease, with plans to maximise short-term production across its three oilfields.
Shares in the mining company focused on Kazakhstan's oil and gas sector fell 6.4% to 2.20 pence on Friday afternoon in London.
At the BNG contract area, London-based Caspian noted plans for a 600-metre sidetrack at deep well A6 and for the resumption of production at deep well 803, which previously flowed at rates of up to 500 barrels of oil per day.
The company said a new deep well targeting Permian and Carboniferous horizons is expected to spud in the second quarter of 2026.
At Block 8, the company confirmed completion of the acquisition and continues testing at the Sholkara structure, while at West Shalva, a new well targeting Jurassic oil is set to spud in April 2026.
Caspian added that it continues to seek regulatory approval for the conditional acquisition of Tau Cen.
"With the difficult winter conditions soon to be behind us we are increasing the group's operational activities with a view to maximising short term production at each of our three oilfields." said Chair Clive Carver.
By Christopher Ward, Alliance News reporter
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