Caspian Sunrise Makes Progress At Kazakhstan Project

(Alliance News) - Caspian Sunrise PLC on Wednesday said it has completed drilling of A5 well at ...

Alliance News 27 November, 2019 | 5:24PM
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(Alliance News) - Caspian Sunrise PLC on Wednesday said it has completed drilling of A5 well at the company's flagship BNG contract area, located in the west of Kazakhstan, and Baker Hughes has been contracted to undertake the cementing work.

"Abundant hydrocarbon shows were observed while drilling consistent with the shows observed in the previous side-track which had a successful short term flow test. Wireline logging has just been completed and evaluation of reservoir properties and fluids is ongoing. Pressure in the well remains high and stable," the oil & gas explorer said.

The A5 side-track well, part of deep wells, commenced from a depth of 3,976 metres and reached a total depth of 4,404 meters.

Caspian also said that at deep well A8 well, an extensive use of powerful coil tubing equipment had been followed by two separate acid treatments. A mixture of oil, gas, water and drilling mud flowed to the surface at A8 and the pressure in the well remained strong throughout the process.

The company now intends to close A8 well for a short period to confirm the pressure measurements before deciding how to proceed.

Once work at A8 well has been completed, Caspian will seek to apply the same techniques on Deep Wells 801 and A6.

At shallow wells, the company expects to spud the first of the 18 infill wells at the MJF structure in December.

Caspian shares closed at down 4.3% at 8.90 pence each in London on Wednesday.

By Tapan Panchal; tapanpanchal@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Caspian Sunrise PLC 1.85 GBX -34.51 -

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