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Kazakhstan: Max Petroleum to drill on the Astrakhanskiy Licence in 2010
09 Feb 2010
Max Petroleum, an oil and gas exploration and development company focused on Kazakhstan, has announced that the Company has received approval from the relevant Kazakhstan authority for its 2010 work programme for the Astrakhanskiy Licence, which includes the drilling of the first exploration well in 2010. The work commitment for the Licence required the first well to be drilled before Dec 31 2010, which has now been moved to 2010..
The Astrakhanskiy Block consists of 1,273 km2 located onshore in the Atyrau Oblast in Western Kazakhstan. The Block is adjacent to the giant gas-condensate Astrakhan Field in Russia and its extension into Kazakhstan, Imashevskoye. Max Petroleum acquired a 100% interest in the Astrakhanskiy licence in January 2006.
The Group has completed its seismic acquisition programme over the Astrakhanskiy Block, consisting of 380 km2 of 3D and 445 km2 of 2D seismic in the western section of the Astrakhanskiy licence area. The Group’s strategy is to pursue a farmout or sale of this licence, which is believed to be of interest to major and large independent oil companies seeking high risk / high reward opportunities.
Source: energy-pedia
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