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Sibir full speed ahead in Koltogorsky
By Upstream staff
Sibir Energy has spudded the second of seven exploration wells planned as part if its 2008 drilling campaign on the Koltogorsky exploration licenses.
The well was spudded in block 11 and is planned to reach a total depth of 3200 meters by late May.
An additional four wells are planned to be completed and a further two spudded by the end of the year.
Infrastructure development has also proceeded with four new drill pads built and four drilling rigs mobilised.
Construction of a fifth well pad and mobilisation of a fifth drilling rig is planned for the end of April.
The Koltogorsky blocks are comprised of eight blocks which together cover 2100 square kilometres.
The blocks were bought by Sibir in May last year in a private transaction valued at $50 million.
Overall exploration expenditure for the program is expected to total $80 million.
Thursday, 10 April, 2008, 09:46 GMT | last updated: Thursday, 10 April, 2008, 09:57 GMT
