Qazaqgaz, KOR Start Drilling First Exploration Well At Shalqar Field
The project is being implemented by subsidiaries of the partners - QazaqGaz Exploration and Production LLP and Bozoi Operating, which each hold a 50% stake. Shalqar Energy is the project operator.
The project is being implemented under a carry financing arrangement, under which the strategic partner covers all exploration-stage costs. This allows QazaqGaz to conduct exploration work without financial costs at this stage.
The R-1 exploration well has a planned depth of 2,200 ±250 meters and represents the first stage of the practical implementation of the exploration program at the Shalqar site. Drilling is aimed at clarifying the geological structure of the area, studying prospective horizons and assessing the site's oil and gas potential.
“The start of drilling at R-1 is an important step in expanding QazaqGaz's resource base and developing partnerships with private investors in exploration projects,” QazaqGaz said.
The geological and geophysical data obtained from the drilling will help assess the site's prospects and determine further development plans.
KOR Oil Company is a Kazakh oil company engaged in the exploration and production of hydrocarbons in central Kazakhstan.
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