Azerbaijan, Baku, July 19 / Trend E. Kosolapova/
Kazakh Government has granted Max Petroleum Plc, an oil and gas exploration and production company focused on Kazakhstan, with regulatory approval to convert the Borkyldakty Field to full field development status effective immediately, the company reported.
"FFD approval will allow Max Petroleum to fully develop and produce the Borkyldakty Field and sell 80 percent of crude oil production from Borkyldakty on the export market under the terms of its Blocks A&E exploration and production contract," the company said.
Borkyldakty is currently capable of producing approximately 200 barrels of oil per day from its two productive wells and a third development well, BOR-4, is planned to be drilled in the field in August 2013.
Max Petroleum Plc is an oil and gas exploration and production company focused on Kazakhstan. The company holds 100 percent of the Blocks A and E at the license area covering over 12,455 squire kilometers in the highly prolific Pre-Caspian Basin in West Kazakhstan.
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