Kazakhstan’s KMG EP announces new discovery in Rozhkovskoye field

May 14, 2014

KazMunaiGas Exploration Production Joint Stock Company (“KMG EP” or “the Company”) announced on May 13a new discovery in the Bashkirian tier’s sediments of the Carboniferous period in the Rozhkovskoye field. Inflow of light dry crude oil and gas with maximum flow rates of 1.9 kboe/day and 6 million cubic feet/day, respectively, with 24/64” (9.5 mm) choke, was produced while carrying out tests in reservoirs of the Bashkirian period at the U-24 well drilled in 2013 in the north-east wing of the field. Previous exploration at this part of the field targeted hydrocarbons in the Bobrikovskiy and Tournaisian horizons.

Oil reserves of the new discovery have not been included in Miller & Lents Ltd.’s 2013 year end reserve assessments. Positive test results from the new Bashkirian deposit increase the prospects of growing field’s reserves. A quantitative evaluation of reserves growth will occur following the results of further exploration.

Source: KMG EP Press Office, 2014