By OGJ editors
HOUSTON, June 15 -- Lukoil Overseas of Russia and Kazakhstan's Kazmunaigas launched 2D seismic surveys in the northern Caspian Sea off Kazakhstan and hope to drill in the area in 2005.
Surveys on the 8,400 sq km Atashsky block and 1,168 sq km Tyub-Karagan block are to cost more than a combined $4.2 million.
Atashsky surrounds Tyub-Karagan and extends from a narrow inlet between the Buzachi and Tyub-Karagan peninsulas westward to the marine border with Russia. The blocks center 250 km southwest of the supergiant Kashagan oil and gas discovery and less than half that far northeast of Lukoil's Khvalynskaya oil and gas and Yuri Korchagin oil finds on the Severny Block in Russian waters.
Data acquisition will continue through September and involve 1,057 km on Atashsky and 655 km on Tyub-Karagan. KazakhstanCaspianShelf's Gilawar research vessel will collect the data in 7-35 m of water off the port of Bautino.
Lukoil postulates that a large known structure on Tyub-Karagan may hold 426 million tons of oil equivalent (3.1 billion bbl), 76% oil. The structure, a short distance northwest of Bautino, could begin producing as early as 2012 at 7.2 million tons/year of oil plus unspecified gas from 79 oil and 4 gas wells.
Atashsky's forecast resources are 248.8 million tons of oil equivalent, 57% oil.
