Draft Auezov-1
4 november 2008
After completing a successful production test, Caspi Meruerty Operating Company BV (CMOC) confirms a second oil discovery in the Pearls contract area with the Auezov-1 exploration well.
The well was drilled to the depth of 2465 m and all drilling operations and simultaneous environmental monitoring were carried out in accordance with the approved technical programme and environmental impact assessment.
The Auezov structure is located approximately 15 km from the Khazar structure, where in November 2007 mini-drill stem tests and an extensive logging and oil-sampling programme confirmed the first oil discovery in the Pearls block.
CMOC operates the offshore Pearls contract area in the Kazakhstan sector of the Caspian Sea as joint operator on behalf of JSC OOC «KazMunaiTeniz», Shell EP Offshore Ventures Ltd, and Oman Pearls Company Ltd.1
Caspi Meruerty Operating Company BV (CMOC) was established on 08 January 2007 in the Netherlands. The Kazakhstan Branch of the Company was registered in Aktau (Mangistau Region) in April 2007. CMOC is jointly owned by Joint Stock Offshore Oil Company «KazMunayTeniz» (40%), Shell EP Offshore Ventures Ltd (40%) and Oman Pearls Company Ltd (20%).
«KazMunayTeniz» was established on 14 March 2003 and is a 100%-owned subsidiary of the Joint Stock National Company «KazMunayGas». Shell EP Offshore Ventures Ltd is a member of the Shell Group. Oman Pearls Company Ltd is a private company, registered under the laws of the United Kingdom and established on 02 November 2005 as a 100% subsidiary of the Oman Oil Company based in the Sultanate of Oman.
The Production Sharing Agreement (PSA) in the Pearls Contract Area was signed on 14 December 2005. Signatories to the PSA are the Ministry of Energy and Mineral Resources of the Republic of Kazakhstan, on behalf of the Republic of Kazakhstan, as well as «KazMunayTeniz» (25%), Shell EP Offshore Ventures Ltd (55%) and Oman Pearls Company Ltd (20%) as contractor.
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