Aral Petroleum Capital LLP has spudded Well 306 in East Zhagabulak field in the North Caspian basin in Kazakhstan about 1 mile south of Well 308, which is to be tested in February.
Aral Petroleum, held 40% by Caspian Energy Inc., Toronto, and 60% by Asia Sixth Energy, invested $34.31 million on the North Block in 2011 compared with the $25.84 million obliged to be spent, Caspian Energy said.
Well 308, cased to 4,775 m on the strength of electric log analysis, lies midway between producing wells 213 and 301, which are producing a combined 400 b/d of oil.
New rules issued by the Ministry of Oil and Gas require filing of a technology scheme to support each production license. Information obtained from drilling Well 306 is a final component of the technology scheme for East Zhagabulak, which when approved will validate the field’s full 25-year production period, Caspian Energy said.
Geological conditions for Well 306 are the same as for Well 308. Well 306 targets the same hydrocarbon-bearing horizons; KT-I at 3,360-3,879 m and KT-II at 4,070-4,700 m.
Aral is also drilling Well 316 in West Zhagabulak field with the aim of extending its production license over a larger area. Aral holds a 3-year exploration permit for the North Block, which contains several prospective areas, including East and West Zhagabulak.