Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).

  • FEAnalytics.com
  • FEInvest.net
  • FETransmission.com
  • Investegate.co.uk
  • Trustnet.hk
  • Trustnetoffshore.com
  • Trustnetmiddleeast.com

For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.

WHAT INFORMATION DO WE COLLECT ABOUT YOU?

We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.

COOKIES

In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.

HOW WE USE INFORMATION

We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.

ACCESS TO YOUR INFORMATION AND CORRECTION

We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.

WHERE WE STORE YOUR PERSONAL DATA

The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.

CHANGES TO OUR PRIVACY POLICY

Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.

OTHER WEBSITES

Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.

CONTACT

If you want more information or have any questions or comments relating to our privacy policy please email publishing@financialexpress.net in the first instance.

 Information  X 
Enter a valid email address

Zhaikmunai LP (NOG)

  Print      Mail a friend       Annual reports

Wednesday 14 July, 2010

Zhaikmunai LP

Successful test results for t

RNS Number : 3091P
Zhaikmunai LP
14 July 2010
 



Zhaikmunai L.P.

 

 

 

Zhaikmunai - Successful test results for two more wells as gas treatment facility nears completion

 

 

Uralsk - July 14th, 2010 - Zhaikmunai L.P. (LSE:ZKM) today announces the following update on drilling results and construction progress for its Kazakhstan-based operating subsidiary, Zhaikmunai LLP ("Zhaikmunai"):

- Well #20 reached a test flow of 7.413 million cubic feet (MMcf) of natural gas and 1,260 barrels per day (bpd) of condensate. These results are in line with management's expectations.

- Well #215 reached a test flow of 18.356 million cubic feet (MMcf) of natural gas and 2,984 bpd of condensate. These results significantly exceed management's expectations.

- Together with existing production, these wells will provide over 90% of the planned capacity of the gas treatment facility.

- Construction of the gas treatment facility remains on schedule. Mechanical completion is expected between August 25th and September 25th.

- Commissioning of the gas treatment facility is expected 8-10 weeks from the date of mechanical completion; full commissioning is therefore expected no later than November 30th.

Completion of well #20 and #215

Well #20 reached test flow of 7.413 MMcf of natural gas and 1,260 bpd of condensate at a separator pressure of 25 bars from the Middle Devonian Biski & Afoninski carbonate formation.

 

Well #20 was originally drilled as an appraisal well at a multi-target location in the northeastern part of the Chinarevskoye license block in 2004 and it is now foreseen to be used as a producer from the Biski & Afoninski gas condensate reservoir when the gas treatment facility, currently nearing completion, commences operation. Two sidetracks were drilled out of the old 7 inch casing of well #20 at 4,800 meters. The well was deviated down to 5,095 m and drilled horizontally from 5,095 m to a final depth of 5,425 m.

 

The upper sidetrack was previously tested successfully in January 2010, when a maximum rate of 12.179 MMcf of natural gas and 2,016 bpd of condensate was obtained at a 12 mm choke with a pressure of 200 bars extrapolated. A stable flow of 6.531 MMcf of natural gas and 1,071 bpd of condensate was reached at a 9mm choke and a pressure of 170 bars. The current multi-rate test is targeted at the lower cleaned 300 m deviated sidetrack. However, part of the upper non-cleaned sidetrack may also be producing. At a 10 mm choke the well is currently producing 7.413 MMcf of natural gas and 1,260 bpd of condensate. After the cleaning of the upper sidetrack we expect a co-mingled production of 8.825 MMcf of natural gas and 1,410 bpd of condensate.

 

The final co-mingled multi-rate test of the upper and the lower sidetrack of well #20 is scheduled for the second half of July 2010 after the cleaning of the upper sidetrack.

 

Well #215 reached a test flow of 18.356 MMcf of natural gas and 2,984 bpd of condensate at a separator pressure of 25 bars from the Middle Devonian Biski & Afoninski carbonate formation.

 

A multi-rate test of the Biski & Afoninski reservoir is being carried out in the 952m horizontal section at 4,945 meters in the non-cemented slotted liner. On a 16mm choke with a pressure of 124 bars extrapolated, which is about 21 percent of the formation pressure, the well produced 18.356 MMcf of natural gas and 2,984 bpd of condensate. The formation was acid treated prior to test operations.

 

The expected start production for well #215 is estimated at 21.1 MMcf of natural gas per day at a pressure of 170 bars.

 

Based on all tests from the existing gas condensate wells and the current gas production of the Chinarevskoye oil treatment unit, gas production will increase to 123.5 MMcf of natural gas per day (3.5 million m3 per day). This corresponds to approximately 90% of the intake capacity of the gas treatment facility currently under construction.

Zhaikmunai has planned a focused drilling program for the remainder of 2010. Zhaikmunai plans to complete and test four additional gas condensate wells during August and September 2010. The expected gas production from these four wells is 42.3 MMcf of natural gas per day (1.2 million m3 per day).

Gas flaring permit

Zhaikmunai also received an extension for its gas flaring permit from the Ministry of Oil and Gas valid until the end of September 2010. Zhaikmunai's management expects the gas treatment facility will be filled with gas no later than September 30th, 2010.

Gas treatment facility nears completion

Pre-commissioning works for the completion of the gas treatment facility started during in June 2010. Based on the most recent progress reports Zhaikmunai expects its contractor, KazStroyService, to achieve mechanical completion between August 25th and September 25th, 2010.

 

Black Start (*) is expected to occur no later than September 30th, 2010. Following Black Start, commissioning activities will continue while test production will be ongoing, during which time gas and condensate production ("gas in from wells") will be gradually increased to its optimal capacity over an 8 to 10 week period.  At the end of that period the gas treatment facility is expected to achieve its designed operating capacity, resulting in full commissioning of the facility. 

 

The commissioning (expected to be completed no later than November 30th, 2010) will be followed by a meeting of the State Acceptance Commission of the Republic of Kazakhstan, the competent body authorized to provide operating licenses for infrastructure and equipment in Kazakhstan.

 

Kai-Uwe Kessel, Chief Executive of Zhaikmunai, commented :

 

"We are pleased that the well results demonstrate the success of horizontal drilling in the Chinarevskoye Field. Using this technique we will reach the production necessary to feed the gas treatment facility."

 

 

(*) Black Start or "gas in" is the moment the plant is filled with natural gas from the gas pipeline to which, after commissioning, treated gas will be delivered by the gas treatment facility.

 

 

 

 

For further information please visit www.zhaikmunai.com.

Further enquiries

 Zhaikmunai LP  

Bert Jordens, Investor Relations Officer

jordens@zhaikmunai.com                               +44 (0) 1624 68 21 79  

 

Brunswick   

Michael Harrison                                              +44 (0) 20 7404 59 59

 

About Zhaikmunai

 

Zhaikmunai is an independent oil and gas enterprise currently engaging in the exploration and development and production of oil and gas. It is listed on the London Stock Exchange (Ticker symbol: ZKM). Its principal producing asset is the Chinarevskoye Field located in northwestern Kazakhstan. Zhaikmunai L.L.P., a wholly-owned subsidiary of Zhaikmunai L.P., holds a 100% interest in and is the operator of the Production Sharing Agreement for the Chinarevskoye Field. 

 

Forward-Looking Statements 

 

Some of the statements in this document are forward-looking. Forward-looking statements include statements regarding the intent, belief and current expectations of Zhaikmunai L.P. or its officers with respect to various matters. When used in this document, the words "expects," "believes," "anticipates," "plans," "may," "will," "should" and similar expressions, and the negatives thereof, are intended to identify forward-looking statements. Such statements are not promises or guarantees, and are subject to risks and uncertainties that could cause actual outcomes to differ materially from those suggested by any such statements.


 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
DRLXXLLFBDFXBBV