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Sumatec starts Kazakhstan oil-rig operations
by Cals Thu 01 May 2014, 01:48
| Sumatec starts Kazakhstan oil-rig operations |
| Business & Markets 2014 |
| Written by Chong Jin Hun of theedgemalaysia.com |
| Wednesday, 30 April 2014 17:44 KUALA LUMPUR (Apr 30): Sumatec Resources Bhd today began rig operations at its Rakushechnoye oil field in Kazakhstan. In a statement today, Sumatec said this was a significant step in raising oil production from the Rakushechnoye field. Sumatec's wholly-owned subsidiary Sumatec Oil & Gas LLP and its business partner CaspiOilGas LLP are undertaking operations there. It said the first workover well was due for completion and production within three weeks. By the end of 2014, Sumatec said it planned to have 15 oil-producing wells. Sumatec said it expected to achieve its target of 2,000 barrels a day from these 15 wells. On preparation for the workover program which started in February 2014, the company said, it involved improvements to the road access and pad locations around each wellhead. "Formation evaluation (wireline logging) was conducted to gather downhole formation and pressure information which is crucial in achieving the higher production target," it said. |
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