Aqra-1 Appraisal Well Spudding
MOL Hungarian Oil and Gas Plc. (MOL) is pleased to announce
the spud of Aqra-1 appraisal well. This is the first
appraisal well in the Block to assess the Bijell discovery,
situated 8 km to the north-west of the Bijell 1 discovery
well and 26 km to the west-northwest of the Bekhme-1
exploration well.
The well is designed to an estimated TD of over 4,700 meters
in the Triassic subject to technical conditions. The drilling
rig is provided by Crosco, the subsidiary of INA, a member of
MOL-Group.
Shaikan-4 Appraisal Well
Based on Operator's information the well testing program for
the Shaikan-4 appraisal well, drilled 6 km to the west of the
Shaikan-1 discovery well, is ongoing with two well tests in
the Triassic having been completed to date. Five further
tests are planned in the Jurassic and Triassic.
In the course of the first well test conducted in the Kurre Chine C formation, Shaikan-4 achieved a flow rate of 563 barrels of oil per day (bopd) and 3.65 mmscf/d of gas at a 328 psi flowing wellhead pressure.
In the course of the second well test, which is still ongoing, Shaikan-4 tested a thin zone at the bottom of the Kurre Chine B formation achieving a flow rate of 4970 bopd and 7.0 mmscf/d of gas at a 1101 psi flowing wellhead pressure with initial results indicating a 39 degree API fluid.
Background:
MOL, via its 100% subsidiary, Kalegran Ltd., signed
Production Sharing Contract with the Kurdistan Regional
Government for Akri-Bijeel and Shaikan exploration blocks in
2007.
The operator of the Akri-Bijeel block is Kalegran Ltd. with
80% participating interest. Gulf Keystone Petroleum
International Ltd. holds 20% share. The participating
interests are subject to dilution by a Government held Third
Party Participation of 20% and a Government Interest of
20%.
The operator of the Shaikan block is Gulf Keystone Petroleum
International Ltd. with 75% participating interest. Kalegran
holds 20% share, and the remaining 5% is held by Texas
Keystone. The participating interests are subject to dilution
by a Government held Third Party Participation of 15% and a
Government Interest of 20%.
Investor Relations + 36 1 464 1395
Facsimile:
+ 36 1 464 1335
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