Baku, Azerbaijan, Oct. 28
By Elena Kosolapova- Trend:
Max Petroleum Plc, an independent Oil and Gas exploration and production company, expects to start continuous oil production at Sagiz West and Kyzylzhar I fields in mid-2015, the company said on Oct. 27.
Currently the company is carrying out the test production at the fields.
"The test production is expected to be shut-in during the course of the reminder of the year as test production periods end," the company said.
Max Petroleum increased the oil production by 17 percent in the six month period to Sept. 30, 2014 compared to the same period of 2013. Oil production hit 4,239 barrels of oil per day in the reporting period.
"Since then, total production has averaged over 4,000 barrels of oil per day comprising production from fields on continuous production of approximately 3,300 barrels of oil per day, with the balance contributed by variable test production from the Sagiz West and East Kyzylzhar I fields," the company said.
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 square kilometers in the highly prolific Pre-Caspian Basin in West Kazakhstan.
Edited by S.I.
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