Production has start-up at the O-7 well in the Olgovskoye Field, according to Kulczyk Oil Ventures.
Prior to the successful tie-in of the O-7 well, the Olgovskoye Field produced from 3 wells (O-3, O-4 and O-5) with each well producing from a separate horizon. The O-3 well produces from a Lower Muscovian horizon, the O-4 well produces from the Middle Bashkirian sands and the O-5 well produces from an Upper Muscovian horizon. These 3 wells produced at a combined average rate for the month of September of more than 1.7 MMscf/d of gas.
The O-7 development well was drilled to a depth of 2,520 meters during the last quarter of 2009. Subsequent wireline logging and evaluation of well data identified more than 150 meters of gas pay across 38 reservoir zones. A Lower Bashkirian target zone was perforated and tested in late September 2010 at an initial rate of 2.3 MMscf/d of gas with some condensate at a flowing tubing pressure of 1,040 psi. Over the past few weeks the O-7 well has been flow tested at rates of up to 2.4 MMscf/d with 53 bpd of condensate with the gas and condensate flowing through a 5 mm choke. The choke size has now been reduced to 4 mm and the well will be produced at a rate of approximately 1.5 MMscf/d. The successful completion and tie-in of this well to the production facilities has increased production from the Olgovskoye Field by more than 70% to more than 3.0 MMscf/d of gas. The new gas reservoir being produced in this well is expected to increase the volume of hydrocarbon reserves allocated to the Olgovskoye Field.
The Olgovskoye-8 well, to be drilled at a location 2.1 kilometers to the southeast of O-7, will commence drilling shortly.
Kulczyk Oil is very pleased with the results of work done on the KUB-Gas assets since the acquisition in June. The work program for 2011, which will be finalizing by KUB-Gas with the assistance of KOV personnel over the next few months, will principally target the comprehensive and efficient exploitation of the Olgovskoye and Makeyevskoye Fields. This will involve the drilling of new wells, the completion of new zones in existing wells, dual completions, stimulation treatments using modern and technically advanced methods commonly used elsewhere in the world and the effective implementation of a compression strategy.
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