Project Profile
Location: Konys Field, Turgai Basin, Kazakhstan
Value: US$200 million
Start-up Year: July 2012
Estimated Potential Reserves: 14.6 million barrels of C1 + C2
Area: 180 sq km
The Galaz Contract Area (NW Konys Field) is a 30km2 oil discovery in the Turgai Basin in Kazakhstan. The contract area has estimated potential reserves of 14.6 million barrels of C1 + C2. Roxi Petroleum has received a two year extension for the NW Konys Contract Area, which will allow continued appraisal of NW Konys field during Pilot Production and the exploration of the North Konys structure in the Area Extension. NW Konys is located in the Galaz Contract Area Galaz has received confirmation from the Ministry of Oil and Gas that it will receive a two year extension to the Subsoil User Contract for the NW Konys Contract Area. The addendum to the contract and work programme will be finalised with the Ministry Working Committee over the next sixty days. This extension period will allow continued appraisal of NW Konys field during Pilot Production and the exploration of the North Konys structure in the Area Extension announced on 12 January 2011.
It is now estimated that Galaz will receive all permits and approvals to start pilot production in H2 2011. Following completion of the SSUC amendment, Galaz will apply for Pilot Production consent for the extension period. Upon receipt of all emissions and production permits, production will begin immediately from the available wells, which have individual facilities. Tendering for camp, pilot production facilities, and the first stage, development drilling campaign will commence after completion of the extension award.
Operators:
LG International: Operator with 56.78% interest
Xinjiang Zhundong Petroleum Technology Co.: 34.22% working interest
Contractors:
PGS Kazakhstan LLP: Seismic data acquisition