Production test of oil well M656 of the Kyrgyzstan project showed encouraging oil flow and considerable production volume, said China Huarong Energy.
The well located in Maili-Su IV oilfield zone recorded approximately 850 bbl and 402 bbl of oil when using 8mm and 3mm oil chokes, respectively.
Huarong Energy acquired 60% stake in the Kyrgyzstan project in September 2014, involving five oilfield zones located in the Fergana Valley of Central Asia and so far 36 wells have been drilled.
According to the firm, Maili-Su IV contains large areas of oil reserves, representing significant potential in development and increase in production. Last month, Izbaskent 225 of the Kyrgyzstan project recorded a satisfactory increase in production volume of oil with potential to reach 278 bbl.
Sean Wang, chief financial officer and executive director of Huarong Energy previously commented that the lack of exploration expertise have long generated an inaccurate perception of Kyrgyzstan as a low oil reserve country.
Research indicates abundant oil reserves in Kyrgyzstan and the government continues to encourage foreign capital investments in its oil and gas industry. The remaining recoverable reserve is said to be around 638 MMbbl of oil.
Image: Kyrgyzstan field work / Huarong Energy
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