Max Petroleum Plc, an oil and gas company focused on Kazakhstan, announces that in June it commissioned a new oil pipeline, and associated Makat oil terminal facility, connecting its Zhana Makat field with the regional oil export pipeline approximately 10km away. It is now possible to deliver oil directly from the Zhana Makat Central Processing Facility to the national Kazakh pipeline network enabling direct delivery of both domestic and export oil sales. Oil produced at the Zhana Makat, Borkyldakty, Sagiz West and East Kyzylzhar I fields can now be transported to end users using this pipeline at a transport cost saving of approximately US$4.0/ barrel. Asanketken field production will continue to be transported to a terminal closer to that field.
The quantity of oil being delivered via the pipeline is now ramping up to a total of approximately 3,400 barrels of oil per day, being the total volume that is currently available to be transported via this route. It is expected that there will be an annualised transport cost saving of approximately US$4.9 million once this ramp-up is complete. The volume of oil being transported via the pipeline is expected to increase further as production is increased from Sagiz West and East Kyzylzhar I once continuous Trial Production commences from these fields, expected in 2015.
That's the target to break, however does look like a double bottom has formed......time will tell but an excellent quantifiable RNS. Near $5 million yearly transport saving and no doubt will improve revenue as production is also climbing. Making the oil easier to transport to the export market is a significant milestone
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