The Company owns and operates the Bortovoy License covering approximately 3, 215 sq. km. The block contains ten recognized gas and oil fields as well as over 40 delineated prospects, as certified by independent reserves engineers. Geologically, the block lies on the northern part of the long and pronounced margin of Pre Caspian basin, one of the largest hydrocarbon provinces in CIS which hosts several major hydrocarbon accumulations both in Kazakhstan and in Russia. The giant Chinarevskoe and super-giant Karachaganak as well as a number of smaller fields are located along the same geological trend on the other side of Kazakhstan border.
At the time of acquisition in 2006, the area of Bortovoy block contained over 130 wells drilled primarily during the Soviet period. As well as serving as valuable data source for the continued appraisal of the block, a number of these wells have been successfully re-entered and following an acid stimulation programme were brought on production at commercial rates.
Since 2006 the Company embarked on extensive 2D and 3D seismic exploration and appraisal programme which identified numerous promising geological structures which appear analogous to large known fields nearby. In addition to helping substantially increase 2P reserves since acquisition, the programme enabled Vostok to formulate and begin implementing a development plan which will see the company becoming one of the leading independent gas producers in Russia in the near future.
In addition to significant reserve prospectivity, one of the main advantages of Bortovoy block is its location in the European part of Russia in close proximity to potential customers and off-takers. The block is located in the established industrial region with well developed infrastructure. It is bisected by Gazprom’s trunk pipeline as well as a smaller spur line and is also traversed by a major rail-line and a network of hard-top roads. Temperate climate allows year-round operation.
In 2010 the Company celebrated an important development milestone – completion of a Gas Processing Plant designed to process gas from the fields located in the western portion of Bortovoy license. The plant was originally acquired in 2007 from Chevron and following refurbishment and re-engineering to add sulphur stripping capabilities and to meet Russian technical and safety standards was shipped to Saratov and re-assembled at the site of Karpenskoye field. Simultaneously, Vostok built all required auxiliary facilities, including 22 km sales gas pipeline to the tie-in point with Gazprom’s trunk line, gathering system, power lines, roads, base storage, etc.
the more excited I get. This will put ZOL on the map. Looks like many issues VE had seem to be resolved. It's up and running already, for future development it will need more cash. Hence, the oilbarrel presentation the other week. This will end up massive, Zylo, this is exactly what we've been saying for 2 years.
I don't think they will complain about the deal. There's a lot of money being transferred here. This looks like a shoe in. Other possible buyers stepped back when Ab's turned up. Zol, is going big! As we've always said. Well done lads, bugger IPO. Lol
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