ASTANA, Kazakhstan, May 2. Nostrum Oil & Gas PLC found hydrocarbons as part of exploration at the Chinarevskoye field in Kazakhstan, Trend reports, with reference to the company's report for the first quarter of 2024.
"During the first quarter of 2024, well number 301 was drilled on time and on budget, reaching a total depth of 4,980 meters. The well objective had multiple in-fill targets across the Carboniferous and Devonian reservoirs. Hydrocarbons (oil, gas, and condensate) have been encountered across all three key intervals. The results are in line with the company’s expectations of initial well rates of 400 to 700 boepd, expected to startup mid-year," reads the report.
According to the company, the drilling rig is being moved to the next well (CNH 41) for an appraisal sidetrack, with an expected start of operations in Q3 2024.
Meanwhile, Kazakhstan produced 90 million tons of oil in 2023, which is 6.9 percent higher than in 2022. Oil exports also increased and amounted to 70.5 million tons, which is 9.6 percent more than the previous year.
Moreover, Kazakhstan plans to increase oil production in 2024 to 90.3 million tons.
