Max Petroleum signs rig contract for Kazakh exploration program
ASTANA – British oil explorer Max Petroleum has signed a contract with Saipem, a subsidiary of Eni, for a National 1625 DE onshore drilling rig for its deep, pre-salt exploration program in Kazakhstan, Energy Business Review reported.
The company said that the contract secures the use of the 3,000hp rig to drill a minimum of two deep wells in the company's Blocks A&E license area.
The company plans to commence drilling the NUR-1 well on the Emba B prospect in Block E during August 2011, targeting unrisked mean resource potential of 467 million barrels of oil equivalent (mmboe) distributed over a probable range (P90 to P10) of 170 million to 817 million mmboe with a 29% geological chance of success.
Max Petroleum is an independent oil and gas exploration company with an initial focus in Kazakhstan.
The Group's strategy is to maximise the value generated from the Group’s capital spending programme over the next three to five years by properly capitalising on the Group's extensive 3D and 2D seismic and other geological data acquired on its exploration acreage in the Pre-Caspian Basin.
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