Charvak Project
Caspian has three wells at Charvak producing small amounts of oil from the limestone Bed V (of Tertiary age) at depths of between 93m and 178m. The existence of oil in shallow sandstone and conglomerate reservoirs has been established by exploratory drilling with six cored bore holes drilled by Caspian Oil & Gas. The Company plans to use a contract rig to drill three shallow wells to test the sandstone and conglomerate beds in late 2008.
Deeper and larger prospects have been identified and a seismic survey, planned for early 2009, as part of Santos' farmin programme should better define these structures.
The 744 sq km Charvak licence surrounds three small excised oil and gas fields:
· Changyrtash - (9 sq km excision) recoverable 13.0 million barrels (MMbbl) of oil, production to date 11.8MMbbl of oil;
· Chigirchik - (4 sq km excision) recoverable 27.6 MMbbl oil, 2.0 billion cubic feet (Bcf) of gas; and
· Suzak - (3 sq km excision) 171.9 Bcf gas.
(Reserve Numbers from USGS 1994 report)
In the productive Changytrash Field, oil is found at shallow depths (300-800m) in two pay zones within the Paleogene: Bed III (sandstone) and Bed V (limestone).
Oil production at Charvak Exposed reservoir beds at Charvak