News 2013
#3 (81) june 2013EP KMG
The first exploration well, drilled on the area White Bear in the British sector of the North Sea of EP KMG (Kazakhstan), BG Group (Great Britain) and Maersk Oil North Sea (Denmark), appeared to be dry. It results from the message of EP KMG with the reference to reduced consolidated interim financial statements of this company for three months, which ended on the 31st of March 2013.
«EP KMG acknowledged deduction of expenses of the dry well in the amount of 6,1 billion KZT (41 million KZT), drilled on the prospective area White Bear in the North sea», – is reported, in particular, in this press-release. The company does not tell the details of the exploration project implementation in the North Sea. Earlier it was reported that EP KMG, BG Group and Maersk Oil North Sea began to drill the first exploration well on the block White Bear in spring 2012.
At that time EP KMG informed that these drilling operations should have taken approximately five months. Partners on this project planned in 2012 to drill here only one exploration well. The further program of works depended on results of drilling of the first well. The license site of White Bear is located on the area 213 sq. km, and the depth of water here is approximately 90 meters.
Till now there have not been drilled any well, within this license site only several structures were mapped. EP KMG gained 35% share in the project in August 2010, having signed with BG Group the contract of joint exploration of the block. Today BG Group possesses 45% of shares in the project, and Maersk from the end of 2010 – 20%. According to the existing license, the stage of searches and exploration will be completed here in 2015. The block White Bear is the first official foreign project of EP KMG.