Charvak Project
The existence of oil in shallow sandstone and conglomerate reservoirs at Charvak has been established by exploration drilling, but low flow rates make economic develpment unviable at current oil prices.
Deeper prospects have been identified by a seismic survey completed in mid-2009. Interpretation of this seismic should be completed by February 2010, as part of Santos's farmin programme.
The Charvak licence surrounds three small excised oil and gas fields:
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Changyrtash - (9 sq km excision) recoverable 13.0 million barrels (MMbbl) of oil, production to date 11.8MMbbl of oil;
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Chigirchik - (4 sq km excision) recoverable 27.6 MMbbl oil, 2.0 billion cubic feet (Bcf) of gas; and
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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).