Hungarian oil company MOL has made a new discovery of oil and gas in the Fedorovskoye Block located in northwestern Kazakhstan.
This block is being explored for hydrocarbons since 2000, by a consortium of companies including Exploration Venture, First International Oil Company, and MOL Caspian Oil and Gas, an affiliate of MOL. MOL has participated in the project since 2004, with a 27.5% interest.
The exploratory well Rozhkovskaya-U-10 was spud-in during October 2007 and reached its target depth during April 2008.
During the testing campaign, the well has produced significant volumes of high quality oil-condensate and gas from the primary targets. The test showed 8.24 million standard cubic feet (MMscf/day) gas and 1,503 barrels (bbl/day) oil-condensate production per day.
Following the ongoing testing, the consortium will be conducting further extended tests to evaluate the scale and potential economic viability of the reserves.