Aladdin Hits Milestone in Russia, Finds Oil on West Uthinskoye License

Aladdin Oil & Gas Company ASA has made an oil discovery on the West Uthinskoye license (WU) in the Timan-Pechora region in Russia. The discovery is considered a milestone in the development of the license.

The WU #17 well in Timan-Pechora will be drilled to a depth of about 250 meters prior to logging and testing. The objective is to start test-production during the first half 2008. The oil-bearing zone is located at a depth of 210 meters. Core samples show a substantial zone with sandstone containing oil.

"Through this discovery we have found a new field. If we conclude that the discovery is commercially viable, we will develop an extensive drilling program of production wells in the vicinity to ensure a speedy build-up to a significant production volume," said Espen Glende, Chief Executive Officer of Aladdin. Glende adds that the wells are quick to drill because they are shallow.

The WU license is approved as a production license, which simplifies the commercialization processes.

Aladdin already produces oil at its license in Orenburg and has previously announced its decision to commercialize a significant gas discovery at the MS license in Uktha.

A scheduled overhaul of all seven wells in Orenburg is ongoing. Plans for the 2008 drilling program are on track and drilling is expected to begin during the summer of 2008.


Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Maintenance & Reliability Engineer (Expression of Interest)
Expertise: Asset Management|CAD / CAM|HR - General|PR / Corporate Communications|Reliability Engineer
Location: Houston, TX
Senior Structural Engineer
Expertise: CAD / CAM|HR - General|Piping Technician|PR / Corporate Communications|Seismic |Structural Engineering|Surveying
Location: Perth, WA
Facilities Engineer
Expertise: Budget / Cost Control|Cartography / Mapping|Facilities Engineer|HR - General|IT - SAP / ERP|Mechanic|Mining|PR / Corporate Communications|Project Engineer|Reservoir Engineering
Location: Denver, CO
search for more jobs

Brent Crude Oil : $51.03/BBL 1.51%
Light Crude Oil : $47.09/BBL 0.66%
Natural Gas : $2.93/MMBtu 1.38%
Updated in last 24 hours