ExxonMobil Participates in Caspian Sea Discovery



ExxonMobil's subsidiary, ExxonMobil Kazakhstan Inc, has participated in a new discovery in the North Caspian Production Sharing Agreement (NCPSA) contract area. The first exploration well on the Kairan prospect was completed successfully and encountered hydrocarbon bearing intervals. Additional evaluation will be required to determine if the hydrocarbon accumulation is commercially viable.

Kairan is the fifth discovered field on the NCPSA following Kashagan, Kalamkas, Kashagan Southwest, and Aktote. The world-class Kashagan discovery was announced in 2000 and declared commercial in June 2002 with estimated resources of 13 billion barrels of oil. Kairan is located approximately 25 miles (40 kilometers) east of the Kashagan field.

The drilling of Kairan-1 was carried out on an artificial island. The well was drilled to a total depth of 12,630 feet (3,850 meters) in 2003 and then suspended due to the winter ice season. Testing operations commenced in March 2004 and the well was tested at a rate of 4,100 barrels per day on a 32/64-inch choke.

The North Caspian PSA covers almost 1.4 million gross acres. Companies involved in exploration and development of this area are ENI (Operator - 16.67 percent), ExxonMobil (16.67 percent), BG (16.67 percent), ConocoPhillips (8.33 percent), Inpex (8.33 percent), Shell (16.67 percent), and Total (16.67 percent). In addition, ExxonMobil affiliates have a 25 percent interest in the giant Tengiz field located on the Eastern shore of the Caspian Sea and a 7.5 percent interest in the Caspian Pipeline Consortium.
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