Following a recent announcement of the purchase of a new US$3.5 million oil rig from China, Caspian Oil & Gas has reported the commencement of a four to six week road journey for the rig to neighbouring Kyrgyz Republic.
“After a commissioning period the rig will start the first of the Company’s drilling programme at its Mailisu III leases a 70% Caspian owned joint venture with local Government oil company KNG, in late July – early August,” according to Chief Operating Officer Graeme Parsons.
“The eleven well drilling programme will see four wells sunk at our Mailisu III lease and additional wells on shallow (<1,000m) prospects on the Ashvaz, East Mailisu and Charvak licences, where Caspian will have the rights to 100% o the oil produced.
“We expect this to move us into our next phase of development, that of a commercial oil producer,” Mr Parsons said. The convoy of over 50 vehicles will cross China to assemble at a base in Kashi on the western edge of the Taklamkan Desert. From there it will follow the old Silk Road across the Tien Shan Mountains through a 3,500m pass. The road continues on to Osh, a 3000year old market town and the Kyrgyz Republic’s second largest city, and then to its final destination at Mailisu, a journey of over 4000km.
“The rig has undergone rigorous inspections prior to its departure from China to achieve internationally certification,” Mr Parson said. “We expect to see considerable demand for hire of the rig by other Kyrgyz based companies if we have any time between our own drilling programmes,” he said
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