JKX Starts Up Elizavetovskoye Field in Ukraine

Eastern Europe-focused JKX Oil & Gas reported Monday the start-up of its Elizavetovskoye field, Ukraine, with the successful completion of the field's first development well, E-301.

JKX said the well is now flowing gas to the newly-commissioned early production facility. The first export of gas took place on January 15. The well is currently producing at a stabilized rate of 7.2 million cubic feet of gas per day and three barrels per day of condensate through a 44/64-inch choke, with a flowing well-head pressure of 685 pounds per square inch.

Well E-301, which was drilled to a depth of 10,175 feet, is the first in a five-well program targeted at developing the primary Permian A2 carbonate reservoir. JKX said that, with initial production coming at more than double expectations, it may be possible to develop this primary reservoir with fewer wells. The field's production facility has been designed with a nominal throughput capacity of 15 million cubic feet per day.

JKX said the N-75 Skytop rig has now been moved across the three-well drilling pad to the E-302 wellhead location and drilling is underway. The primary target for the second well is also the A2 reservoir, although it has been engineered to permit deepening to the Upper Carboniferous G7-12 sandstone reservoirs at a later date.

JKX Chief Executive Dr Paul Davies commented in a company statement:

"Start up at the Elizavetovskoye field has been achieved on time and on budget and reflects the strength and depth of the engineering and management capability of our Ukrainian subsidiary, Poltava Petroleum Company. We look forward to PPC implementing similar projects in the near future."