ExxonMobil Kazakhstan subsidiary participates in two north Caspian
discoveries
Posted: 26 November 2003
Exxon Mobil Corporation subsidiary, ExxonMobil Kazakhstan Inc.,
has participated in two discoveries in new prospects on the North
Caspian Production Sharing Agreement (NCPSA) contract area.
The first exploration wells on each of the Aktote and Kashagan
Southwest prospects were completed successfully and encountered
hydrocarbon-bearing intervals. Additional evaluation will be required
to determine if the hydrocarbon accumulations are commercially viable.
Aktote-1 and Kashagan Southwest-1 are the third and fourth discoveries
on the NCPSA following Kashagan and Kalamkas.
The world-class Kashagan discovery was announced in 2000 and declared
commercial in June 2002 with estimated resources of more than nine
billion barrels of oil.
The drilling of Aktote-1 was carried out on an artificial island.
The well was drilled to a total depth of 14,000 feet (4,267 meters)
and was tested at a rate of 1,550 barrels per day on a 28/64-inch
choke.
Drilling of Kashagan Southwest-1 was also performed on an artificial
island. The well was drilled to a total depth of 19,275 feet (5,875
meters) and was tested at a rate of 2,100 barrels per day on a 32/64-inch
choke.
"The Aktote and Kashagan Southwest discoveries provide further
encouragement that the North Caspian can become an important resource
base to help supply the world's growing energy demands," said
Jon Thompson, president of ExxonMobil Exploration Company.
The North Caspian PSA covers almost 1.4 million gross acres.
Companies involved in exploration and development of this area
are Eni (Operator - 16.67 per cent), ExxonMobil (16.67 per cent),
BG (16.67 per cent), Inpex (8.33 per cent), Phillips (8.33 per cent),
Shell (16.67 per cent), and Total (16.67 per cent).
Upon completion of the sale of BG International's interest in the
NCPSA, ExxonMobil's interest will become 20.37 per cent. In addition,
ExxonMobil affiliates have a 25 per cent interest in the Tengiz field,
one of the world's largest oil fields, located on the Eastern shore
of the Caspian Sea, and a 7.5 per cent interest in the Caspian Pipeline
Consortium.
Posted by Richard Price,
Editor Pipeline Magazine
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