10th Jun 2014 06:56
LONDON (Alliance News) - Max Petroleum PLC Tuesday said its ZMA-E7 development well in Kazakhstan's Zhana Makat Field has reached total depth and has successfully found an expected region of hydrocarbons.
The Kazakhstan-focused oil and gas company said the well reached a depth of 997 metres and found hydrocarbons in Jurassic sandstone reservoirs. It will now complete the well and place it on production as soon as possible.
The company said its drilling rib will now move to the Zhana Makat main camp where it will be stacked at an immaterial cost, before it drills the ZMA-E8 well once it has got regulatory permission to go ahead, something that is expected in the third quarter this year.
Max Petroleum said the estimated drill cost for the ZMA-E8 well is less than USD1 million, in line with its other wells at the site, and it will be targeting a potentially significant extension of the Zhana Makat field to the south east of its current appraised area.
By Tom McIvor; [email protected]; @TomMcIvor1
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