Caspian Ramps Up Production on Zhengeldy Project

Caspian Holdings Plc has received work program approval for its Zhengeldy project in Kazakhstan from Zapkaznedra. This approval will enable the re-start of production at Zhengeldy.

The Company took the decision to suspended production and exports in early 2008 while waiting for work program approval. Prior to suspension, the Zhengeldy project was producing approximately 120 bbl per day. The Company anticipates that production will reach a similar level following an initial ramp up period.

"We are pleased to have received this critical approval in order to re-start production at Zhengeldy. The Company completed a new export facility at Karsak last year and we are delighted that approval has been granted at such a buoyant time in the oil market. With oil prices in excess of $130 per barrel it is a great time for us to recommence oil production," said Caspian CEO Michael Masterman.


Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Artificial Lift - SPS Operator Bander / Spoole
Expertise: Production Operator
Location: Midland
United States Odessa: Sr Field Engineer - Directional Drilling
Expertise: Directional Driller|Drilling Engineering
Location: Odessa, TX
United States Houston: Senior Production Group Leader
Expertise: Production Operator
Location: Houston, TX
search for more jobs

Brent Crude Oil : $51.78/BBL 0.77%
Light Crude Oil : $50.85/BBL 0.83%
Natural Gas : $2.99/MMBtu 4.77%
Updated in last 24 hours