MOL Announces A New Discovery in the Fedorovsky Block, Kazakhstan

Source: www.gulfoilandgas.com 5/26/2014, Location: Asia

MOL Plc. is pleased to announce a new discovery in the Bashkirian tier’s sediments of the Carboniferous period in the Rozhkovskoye field in the Fedorovsky Block, Kazahstan. Specifically, inflow of high quality light crude oil and gas with maximum flow rates of 1.9 mbbl/day and 6 million cubic feet/day (1 mboe/day) was recorded, respectively. This flow rate was on a relatively small choke (24/64’’ or 95 mm), and was produced while testing of the Bashkirian reservoirs.

Previous exploration had targeted the Bobrikovskiy and Tournaisian horizons, thus the discovery of oil reserves in the Bashkirian had not been included in the previous resource and reserves assessment. Therefore the positive test results from the new Bashkirian discovery will significantly increase the field’s reserve prospects.

Quantitative evaluation of reserve is underway and MOL expects further increase following the results of further exploration and appraisal of the Fedorovsky Block.

MOL has a 27.5% working interest in the Fedorovsky block in Kazakhstan. Our partners in the Block are KazMunaiGas E&P (50%) and FIOC (22.5%).

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