Australia's Skyland Petroleum Ltd., a petroleum exploration and production firm focused on Central Asia, the Caucasus and Russia, announced Monday that it has commenced oil production at the Kyzyl-Tumshuk field in Tajikistan.
Oil production at the field is set to increase in the next few month as several other planned well are expected to become operational.
“We are very pleased to have brought on production of oil from the Kyzyl-Tumshuk field so quickly, particularly given the necessity to install additional surface facilities and to overcome the logistical challenges this entails. The oil produced will be sold on the local market, which will immediately generate cash flow for the Company. We have a number of other target wells on the field for both oil and gas production, and preparations for these operations are proceeding well,” Stephen Elliott, vice president Project Development said in the press release.
Skyland revealed that first production from the oil field was achieved on time and under budget.
“This is a major milestone for the Company. We have met our objectives in terms of both timing and cost, and we are confident that we can ramp up production quickly," Dr. David Robson, chairman and managing director, added.
Have a news tip? Share it with Rigzone!
WHAT DO YOU THINK?
Click on the button below to add a comment.
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
More from this Author
Most Popular Articles
From the Career Center
Jobs that may interest you