Reach Energy Berhad said Dec. 3 that its exploration well, North Kariman-3 located in the North Kariman Field in the onshore Emir Oil Concession Block in Kazakhstan, has yielded positive results during the initial testing phase.
NK-3 which was spudded in early February 2018, is the first of six wells committed under the current exploration contract with the Ministry of Energy, Kazakhstan.
The well penetrated the Mid-Triassic carbonate reservoirs, with a total true vertical depth subsea of 4,140.66 meters. Moving forward, the company is now proceeding to apply for a test production license to further ascertain the commercial viability of this well. Two shallower intervals will be perforated in the future once the test production of the aforementioned interval is completed. The company expects an increase in value of the well in terms of commerciality and contribution to overall reserves and production if the well yields positive results.
“We are happy to announce another discovery after Yessen-3. This development further highlights the vast exploration upsides that the Emir-Oil Concession Block has. Not only that, we have also discovered that reservoir pressure from the NK-3 well was determined to be relatively high as compared to surrounding wells. This suggests that NK-3 would be a highly productive well once we commence production,” Ir. Shahul Hamid bin Mohd Ismail, CEO of Reach Energy Berhad, said.
Currently, Emir-Oil’s 2P reserves stands at 81 million barrels of oil equivalent which is subject to an update early next year by its reserves auditor, Gaffney, Cline and Associates.
Recommended Reading
Trendsetter Completes Two Deepwater Well Stimulation Campaigns
2024-01-24 - Trendsetter Engineering's campaigns resulted in the “successful” acid treatments of a combined six wells using their subsea tree injection manifold.
The Completions Package: NextTier, ProPetro Electrify Frac Fleets
2024-01-16 - NexTier and ProPetro’s respective electric frac fleets are touting a newer, cheaper and more sustainable approach to hydraulic fracturing through electrification.
SLB to Use Geminus AI Physics-based AI Model Builder
2024-01-10 - AI models built using physics-based simulations from Geminus will optimize oil and gas operations, SLB says.
Drilling Automation Systems Provide Consistency Across Wells, Fields, Personnel
2024-01-09 - Automated drilling systems don’t get tired, forgetful or concerned about the type of rig or formation.
Exclusive: NexTier Reveals New Blending Equipment for Fracturing
2024-01-09 - Renee LeBas, vice president of NextGen at NexTier introduces their latest technology and electric driven blending equipment for fracturing operations with risk reducing components in this week's Tech Trends.