Project Profile
Value: Undisclosed
Location: 330 km to the northeast of Ufa, the capital of Bashkiria, Russia
Reserves: 2 and 10 million recoverable barrels of oil
Area: 187 square kilometres
Start-up Year: -
The Aysky license block is situated some 330 km to the northeast of Ufa, the capital of Bashkiria. In the third quarter of 2009, Shelton Petroleum was awarded the exploration license in the Russian republic of Bashkiria. This license area, Aysky, is 187 square kilometres and lies directly to the east of the company\'s first license area, Rustamovskoye. The license gives Shelton Petroleum the right to explore for oil and gas over a period of five years. Over ten wells were drilled in the Aysky area during the Soviet era, and oil was found in horizons from the Devonian period. Bashneft, the leading Bashkirian oil company, produces oil from the bordering Metelinskoye field.
In 2011, Shelton Petroleum completed a seismic program of 65 kilometres on the Aysky block. The independent seismic service company Udmurtgeofizika estimates Russian C1+C2 reserves and C3 resources to amount to 12 and 10 million recoverable barrels of oil respectively. The estimate is based on Shelton Petroleum\'s seismic program and wells drilled during the Soviet era. Upon a tightening of the seismic grid through acquisition of more data, Shelton Petroleum may be able to register reserves with the Russian State Reserve Committee. New seismic data may also confirm the hypothesis that one of the structures on Aysky is a continuation of the oil saturated Devonian sandstone formation on Rustamovskoye, from which the company has commenced pilot production. Shelton Petroleum is designing a tightening of the seismic grid in order to identify the optimal location for an exploration well.
Operators:
Shelton Petroleum: Operator with 100% interest
Contractors:
Udmurtgeofizika: Resource estimates and geological surveys