(Alliance News) - Caspian Sunrise PLC on Wednesday said the workover of Well 142 on the MJF structure has added 1,400 barrels of oil per day.
The Kazakhstan-focused oil & gas exploration and production company said Well 142 BNG production capacity is now 4,000 bopd.
Well 142 was drilled to a depth of about 2,500 meters in 2016 and produced steadily over a number of years with periodic conventional workovers.
Existing MJF shallow wells 141 and 151 are next to be re-drilled.
Chair Clive Carver said: "Our focus on maximising production from the shallow structures at BNG has resulted in a more than doubling of production capacity since the beginning of the year. We plan to continue the programme of drilling and re drilling shallow wells using a horizontal drilling approach which we believe should result in reaching a production capacity solely from the shallow structures at the BNG Contract Area of 5,000 bopd before the year end."
Caspian Sunrise shares were up 50% at 4.36 pence each on Wednesday morning in London.
By Xindi Wei; xindiwei@alliancenews.com
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Caspian Sunrise (CASP)