Kulczyk Oil Ventures (KOV) has commenced drilling operations at the O-14 exploration well in the Olgovskoye field, Ukraine.
The company will drill the well to a depth of 2,800m and the well will target a previously untested fault block identified after interpretation of 2D seismic data by the KOV/KUB-Gas technical team.
The well, which is on trend with the main Olgovskoye producing area, is designed to test gas-bearing reservoirs in the Muscovian and Lower Bashkirian and to further develop the gas production capability of the Olgovskoye field.
O-14 is the third new well drilled in the Olgovskoye field since the company acquired its interest in KUB-Gas in June last year.
KOV is an upstream oil and gas exploration company with a diversified portfolio of projects in Brunei, Syria and Ukraine.