Reach Energy discovers oil at North Kariman-3

KUALA LUMPUR: Reach Ener g y Bhd announc ed yesterday that its exploration well, North Kariman- 3 ( NK3) , located in the Nor th Kariman Field in the onshore Emir Oil Concession Block in Kazakhstan, has yielded positive results during the initial testing phase.

NK- 3 which was spudded in early February this year, is the first of six wells committed under the current exploration contract with the Ministry of Energy, Kazakhstan, it said in a statement yesterday.

The well penetrated the midtriassic carbonate reservoirs, with a total true vertical depth sub- sea of 4,140.66 metres.

Moving forward, the company was now proceeding to apply for a test production licence to fur ther ascer tain the commercial viability of this well.

Two shal lower intervals would be perforated in the future once the test production of the aforementioned interval is completed. — Bernama