Area Drilling

BoliviaPan Andean Resources PLC of Ireland spudded a wildcat in late June on the Chipiriri structure on the 777,500-ha Chapare block in central Bolivia.Projected TD is 3,750 m at the wildcat, set up to evaluate the Tertiary Petaca and Cretacous Yantata formations in the northwestern Chaco basin.KazakhstanKazakhoil and Nelson Gold, a Canadian mining company, agreed to form a 50-50 joint venture to develop Alibekmola and Kozhasay gas and condensate fields in the Aktobe region of the Precaspian basin.Kazakhoil will provide its rights to develop the oil fields, while Nelson Gold will arrange $800 million in project financing. Target is for initial production in 2002.MoroccoMorocco will open a...

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