NIS, majority-owned by Russia’s Gazpromneft, will drill three exploration wells targeting the shallow Algyo play which is proven in nearby acreage.
The first probe could be spudded by the end of March, while remaining wells may be completed by the end of September.
Falcon’s chief executive, Philip O’Quigley, said nearby gas handling infrastructure combined with a high gas price would make even a small discovery commercial.
“Because
