Start of work on a new oil field in Kazakhstan

The oil and gas company Nostrum has announced the approval of a limited-scale drilling program for the Chinarevskoye field in northern Uralsk, Kazakhstan.

Nostrum had suspended drilling activities at the Chinarevskoye field in early 2020 following the company’s financial restructuring.

The company said in a statement that it continued to evaluate further exploration and production opportunities for the field in Kazakhstan through subsurface studies and updating its geological and reservoir models.

The additional work carried out by Nostrum on the field and the reprocessing of 3D diesel allowed it to formulate a limited-scale program for drilling two wells to be carried out during the period from 2023 to 2024, in line with the obligations of the subsidiary zikmonai LLP under the analysis of the field development plan and obligations under the production sharing agreement for the field, the press release said.

The company said that the new program, estimated at 26 million dollars, will take advantage of existing wells to reduce costs. Nostrum noted that the program “also carries a level of uncertainty and risk as the planned subsurface targets contain multiple exploration, evaluation and development objectives”.

The Chinarevskoye field has produced more than 100 million barrels of oil equivalent since 2004. The field is located in the pre-Caspian basin, is the site of several gas discoveries, including the rozhkovskoye field and the three adjacent licenses of Nostrum. National and regional pipelines operate near the center of Nostrum, which allows the company to safely and efficiently transport all manufactured products, according to the company’s website.