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First well at Dunga Project in Kazakhstan onstream

By Dominic Chopping, Dow Jones Newswires
 
COPENHAGEN -- Maersk Oil said Monday that the first well at the Dunga Phase II project in Kazakhstan is now on-stream with another two wells to be added to the flow line this week, ensuring early, if modest, cash flow.

Dunga Phase II, a $1 billion project, is the first of Maersk Oil' s major projects, presented at A.P. Moller-Maersk' s Capital Markets Day, to deliver first oil.

It is expected that the major development projects, combined with current production, will increase Maersk Oil' s entitlement production by 50% to 400,000 barrels per day (bpd) by 2020.

In the coming three years, four drilling rigs at Dunga will complete a new well every three weeks. When all 198 wells are drilled by 2015, production is expected to be 30,000 bpd and add around 15,000 bpd to Maersk Oil' s entitlement production.

Morten Kelstrup, managing director of Maersk Oil Kazakhstan, says: "The Dunga field has a lot of potential. This is just the first step in a long journey with an even higher activity level in 2013 and until expected project completion in 2015."

"We are already looking at a Phase III for Dunga and we expect to drill other appraisal and exploration wells in the area. We see significant growth opportunities in Kazakhstan."

The Dunga field is currently producing 7,000 bpd. Maersk Oil is operator of the field with a 60% share, with partners Partex Corporation (20%) and Oman Oil Company Limited (20%).

12/10/2012

 

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