Project Profile
Value: US$250 million
Location: Zhagabulak Area, Aktobe, Kazakhstan
Production: 1,408 b/d
Depth: 4600 metres
Start-up Year: 2012
Aral Petroleum Capital LLP has received a signed Protocol of Direct Negotiations, dated 15 October 2009, from the Ministry of Energy and Mineral Resources, that sets out the agreed basis for the Production Contract for East Zhagabulak oil field. The East Zhagabulak structure is a low amplitude, north-south trending anticline, limited on the east and south by faults. The KT-I and KT-II reservoir sections of the East Zhagabulak oil field are located at a depth range of 4100 to 4600 metres and are composed of organic limestones and shales of Middle Carboniferous age. The numerous permeable intervals range from 1 to 10 metres thick and are separated by dense limestone stringers. Average porosity is 8% and average water saturation is 32%.
The oil produced from East Zhagabulak has an API gravity of 36 degrees and a solution GOR of 1,415 scf/stb. The reservoir has an H2S content of 4%. The initial reservoir pressures range from 5601 psia at 4,199 m TVDSS in the KT-I to 8500 psia at 4,349 m TVDSS in the KT-II. Aquifer support is interpreted to be the drive mechanism but it will need to be augmented by water injection during the development phase. The East Zhagabulak field is currently producing at approximately 380 barrels of oil per day from one well in the Pilot Production Phase. Two wells are capable of production but only one well, EZ-301, is currently producing. EZ-213 is shut in pending a workover to put the well on pump in middle November 2009.
The development of 2P reserves envisages the drilling of three new producers with one expected to be converted to a water injection well in the future, along with the installation of water injection and gas utilization facilities at a total capital requirement of approximately 71 million undiscounted USD. The development for 3P reserves, consisting of an additional three new producers, with one expected to be converted to a water injection well in the future, for a total of eight producers, is expected to cost an additional 41 million undiscounted USD. Full development is expected by Year 2012 when peak production is estimated to reach 6,170 bopd. Estimated production rates do not include production from two wells prior to their conversion to injection wells.On September 21, 2014, the total daily flow rate reached 1,408 b/d during the test. Wells #301, 306 and #315 recorded a production rate of 439 b/d, 517 b/d and 451 b/d respectively.
Operators:
Aral Petroleum (AsiaStar Petroleum Ltd. 10% and Caspian Energy 40%)
AsiaStar (60 per cent stake in Aral if the transactions are completed as anticipated)
Caspian Energy