Patara Shiraki and Nazarlebi Fields

 

Located in the eastern portion of Block 12, the Patara Shiraki and Nazarlebi Fields consist of multiple objective reservoirs that are situated at depths between 10 meters and 1,200 meters.

During 2007, field studies concluded that significant undeveloped reserve potential of as much as 5 million barrels of recoverable reserves exists in oil bearing reservoirs within the Shiraki formation at the Nazarlebi and Patara Shiraki Fields. These fields are situated adjacent to one another in Block 12.

In March and April 2008, a pilot project of ten wells were drilled to depths of approximately 100 meters in order to specifically target and produce known oil-bearing reservoirs in the Pliocene-age Shiraki formation lying updip from the highest known perforations in existing wells. These horizons are the main historical producing zones from the fields and can be accessed at depths as shallow as 10 meters. Previous development during the Soviet era overlooked oil at depths of less than approximately 300 meters. Field studies and the presence of existing natural oil seeps have revealed the presence of extensive undeveloped oil potential at these shallow depths of as much as 1 million barrels of recoverable oil reserves.

Results from the pilot project established the basis for an extensive, low-cost development program in these two field. Drilling commenced in August 2008 and wells from this program are producing good quality 23-28 degree API oil.