Max Petroleum, Oil and Gas
The British oil company Max Petroleum, whose main activity is in Kazakhstan, has announced the completion of the 10 km long oil pipeline’s construction that connects the Zhana Macat deposit with the regional oil pipeline and the oil terminal Macat.
The oil pipeline will allow it to ship oil from the central processing enterprise Zhana Macat directly to the Kazakh pipeline system.
The oil extracted at Zhana Macat, Borkyldakty, West Sagiz and East Kyzylzhar can now be directly transported to the final consumers.
C. Hopkins CEO has been appointed to the post of the CEO in Max Petroleum operating in Kazakhstan. The company informed Kazakhstan stock exchange that Mr. Hopkins will continue working as the CEO of the company’s department in Kazakhstan; he was appointed to the post in May 2013. R. Hook who used to be the CEO for Production will remain the consultant of the company.
The British company Max Petroleum, which works in Kazakhstan, has successfully drilled the last well on its program of appraisal drilling at the Sagiz West fieldfield. As the company reported, the appraisal well SAGZ-7 reached depth of 1.438 meters. Open hole logging showed 24 meters of efficient oil-saturated formation in four Triassic layers in gross interval of over 117 meters at the vertical depth from 1.172 to 1.269 meters. It includes 19 meters of efficient oil-saturated formation in three upper layers and 5 meters of efficient gas-saturated formation in one lower seam.
British oil and gas company Max Petroleum Plc, which focuses in the Republic of Kazakhstan, announces about the evaluation of the Sagiz West deposit reserves on December 31, 2013, prepared by Ryder Scott Company. In fact, the company has updated its own assessment of the Sagiz West deposit reserves made on September 30, 2013.
According to Max Petroleum, an updated estimate includes two successful appraisal wells (SAGZ - 8 and SAGZ - 12) drilled on the field within the quarter, ended December 31, 2013, as well as two unsuccessful appraisal wells (SAGZ -14 and SAGZ -11) that were drilled in October 2013 and January 2014 respectively.
The analysts of JSC “Khalyk Finance” think that a transference of the British Max Petroleum Plc from the prospecting stage to production one is a negative factor for the share price.
“The well NUR-1 was the main opportunity for the growth of the company. The prospects of drilling are becoming vaguer now,” they said.
According to “Khalyk Finance”, the shares of the company have fallen several points (by 27%) due to the news on the Alternative Investment Market.
British company Max Petroleum Plc, specialized in exploration and extraction of oil and gas in Kazakhstan, has completed to drill the appraisal well SAGZ-11 with total vertical depth of 1.429 meters at the West Sagiz field.
The Kyrgyz oil refinery in Kara-Balta will start operations in the near future, the Minister of the Economy, T. Sariyev says. In September, the plant started operations in test mode. In the near future they’ll form the accepting commission. Now the plant possesses 10,000 tons of oil. They plan 2 variants of operation, either fuel importing, refining and sales, or take-or-pay operations.
The British company Max Petroleum Plc, which specialises in exploration and production of oil and gas in Kazakhstan, reported results of drilling at the Sagiz West and Uitas fields, the Novosti Kazakhstan reported.
According to the press release, published on the company’s site, a 39-meter oil-saturated layer above 79-meter Triassic formation layer at the depth between 1208 and 1287 meters was discovered in the appraisal well SAGW-9 at the Sagiz West field. The quality of the reservoir is estimated as good with porousness of 15-29%.
Max Petroleum Plc, specialising in upstream activities in the republic of Kazakhstan, stated about the the completion of drilling of an appraisal well SAGZ-14 to the total vertical depth of 1423 metres. The company abandons the well as it failed to find a sufficient volume of recoverable hydrocarbons there. The results will be analyzed and included into the geophysical assessment of the deposit.
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