BAKU, Azerbaijan, September 28. Drilling of the
first exploration well, R-1, has started at the Shalqar site in
Kazakhstan’s Aktobe region as part of a joint project between
QazaqGaz and KOR Oil Company, QazaqGaz said today.
The project is being implemented by subsidiaries of the partners
- QazaqGaz Exploration and Production LLP and Bozoi Operating,
which each hold a 50% stake. Shalqar Energy is the project
operator.
The project is being implemented under a carry financing
arrangement, under which the strategic partner covers all
exploration-stage costs. This allows QazaqGaz to conduct
exploration work without financial costs at this stage.
The R-1 exploration well has a planned depth of 2,200 ±250
meters and represents the first stage of the practical
implementation of the exploration program at the Shalqar site.
Drilling is aimed at clarifying the geological structure of the
area, studying prospective horizons and assessing the site’s oil
and gas potential.
“The start of drilling at R-1 is an important step in expanding
QazaqGaz’s resource base and developing partnerships with private
investors in exploration projects,” QazaqGaz said.
The geological and geophysical data obtained from the drilling
will help assess the site’s prospects and determine further
development plans.
KOR Oil Company is a Kazakh oil company engaged in
the exploration and production of hydrocarbons in central
Kazakhstan.
