The exploration well is being operated by KOV’s partially-owned subsidiary, KUB-Gas, in which the company holds a 70% effective ownership interest.
The well, with a planned total depth of 2,300m, will test gas-bearing reservoirs of Muscovian age to further develop the gas production capability of the Olgovskoye field.
The Olgovskoye field now produces from five wells including O-3, O-4, O-5, O-7 and O-9, with each well producing from a separate horizon.
KOV said O-18 is the fifth new well drilled on the Olgovskoye license since it acquired its interest in KUB-Gas in June 2010.
