Zhaikmunai LP, the oil and gas exploration and production enterprise today releases the independent reserves audit of its Chinarevskoye field in north-western Kazakhstan as at 31 December 2011. The report was prepared by petroleum consultants Ryder Scott Company.
HIGHLIGHTS FROM THE 2011 RESERVES REPORT
- Proved reserves (1P) have increased by 25.6 mmboe (15,1%) to 169.1 mmboe (December 31, 2010: 143.5 mmboe);
- Proved plus probable reserves (2P) remained above 500 mmboe. The 2P reserves have slightly decreased to 521.6 mmboe (December 2010: 538.6 mmboe) as a result of the 2011 production and some small adjustments on all reservoirs.
Kai-Uwe Kessel, CEO of Zhaikmunai, commented:
“The 2011 Ryder Scott Reserves Report confirms Zhaikmunai’s existing strong reserve base and exceptional potential. As expected, the start-up of our gas treatment facility (GTF) called for more attention on production drilling and resulted in an increase in proved reserves. Now that the GTF operations are stable, we can shift our attention to intensifying appraisal and exploration drilling, which will likely give rise to increases in total reserves in the months and years ahead.”