|Monday, July 24, 2000
Parker Drilling's inland barge, PD 257-B drilled the Kashagan East 1 well in 10 feet of water to a total depth of 16,400 feet. This is the first discovery on the Kazakhstan shelf and is located 47 miles south-east of Atyrau in the Northeast Caspian Sea. The discovery well encountered an oil-bearing interval in the Palaeozoic Carbonates below 13,000 feet. Two tests have been planed, and one test has been completed. The lower test section flowed at a rate of up to 3,700 barrels of oil per day and 7 million cubic feet of gas per day. The second well, Kashagan West, is scheduled to begin late 2000 and is located approximately 25 miles from the first well. The Offshore Kazakhstan International Operating Company (OKIOC) is the operator on behalf of a consortium of nine international shareholders. OKIOC shareholders include subsidiaries of ENI, BG, BP Amoco, ExxonMobil, Inpex, Phillips Petroleum, Shell, Statoil and TotalFinaElf.