Project Profile
Location: Alakol basin, on the border of western China, eastern Kazakhstan
Area: 24,649 sq. km
Prospective resources: 517.3 million barrels
Start-up Year: -
International Petroleum has signed a contract to extend its rights to explore for hydrocarbons on the Alakol project in eastern Kazakhstan until 28 May 2015.
The project lies in the Alakol basin, on the border of western China, and has been estimated to hold a best estimate prospective petroleum resource of 517.3 million barrels, based on 12 prospects. Alakol basin is considered to be similar to the Junggar and Zaisan basins in China, adding main target reservoirs in the basin are carbonates or sandstones of Paleozoic age occurring at depths of between 1,600 and 3,500 metres. The company plans to carry out a 3-D seismic survey over the project area to help assist it with targeting reservoir-quality sands and selecting the locations of future exploration wells.
Operators:
North Caspian Petroleum (wholly owned subsidiary of International Petroleum): Operator with 50% interest
Remas: 50% interest