Most information based on newspapers publications and post as it, some in Russian only
Atyrau region
PRESS - RELEASE
10 May 2000
Joint Press Statement
OKIOC (Offshore Kazakhstan International Operating Company) has reached the original target depth of 4,500 metres in the first exploration well at Kashagan East. The Republic of Kazakhstan, OKIOC and its Shareholders are encouraged by the data received from the well logging. However, it is too early to decide whether the indications of hydrocarbons encountered so far represent a discovery.
As agreed with the Republic of Kazakhstan, OKIOC intends to deepen the Kashagan East well. The positive indications received during logging suggest that it will be beneficial for both parties to obtain additional information about the deeper section of the Kashagan structure at this time. This activity represents an acceleration of OKIOC’s exploration drilling programme, which originally scheduled this section of the structure to be drilled at the Kashagan West location, 40 km away on the Kashagan structure.
In line with good oilfield practice, OKIOC will deepen the well prior to undertaking well testing. OKIOC has reviewed the technical requirements and implications of drilling below 4,500m and firmly believes that operations will be under sound control.
Upon completion of the drilling and logging of this additional well section, OKIOC will undertake testing of the well which will enable us to gain further information about the reservoir and what it contains. OKIOC will be able to give some indications of results after analysis of the well testing.
For More Information Contact:
DNM
00 Web Way, Moscow
Tel: (ICQ number) 410 04162
FAX: CompanyFAX
Internet: [email protected]
