JKX Oil Completes 3-Well Program in Ukraine

JKX Oil & Gas has successfully completed its 2002 drilling programme in Poltava, Ukraine. The three-well program has resulted in an increase in production of 1,450 boepd, lifting total field production by about 30 percent.

The program on the Ignatovskoye Field comprised one new vertical well (Well 111) and the re-entry and side-tracking of two existing producers (Wells 106 and 110). Despite unusually severe weather conditions in the November to January period, the programme was completed within budget. Current production for the three wells is 1000 barrels of oil/day and 2.7 million cubic feet of gas/day.

The success of the program has allowed the planned re-entry and re-completion of a further producer (Well 33) on the Ignatovskoye Field to be advanced. This is currently under test and the results will be available shortly.