Saga Spuds Production Well on East-Shaltinsky Field


Malvin Hoeydal, President and CEO of SAGA Oil ASA comments: "We have spudded in the first production well on the East-Shaltinsky oilfield on the Orenburg block in Russia close to the Kazakhstan border, as it signifies the rapid development since SAGA Oil acquired the management and operational control of the Rodnikovsky license in March this year.

This first well will be drilled to the total depth of around 2200 meters with up to 45 deg. deviation in order to reach the thickest interval of the first production zone, whereupon it will be drilled further in sub-vertical trajectory in order to optimize the data from the extensive coring and well testing program throughout the 3 production zones. We expect to have this first well drilled to TD and cased in 45 to 60 days. Modern western technology and practices will be utilized in order to collect, interpret and analyze all the necessary data needed for further assessment of resources and improve and optimize drilling technology for the program which is in extent of 35 additional production wells. The successful completion of this first well together with the now 75% completed field work for 3D seismic and its interpretation will further increase the proven and possible resources of the East-Shaltinsky oil field".