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Max Petroleum starts drilling next Sagiz West appraisal well

Last updated: 01:59 25 Jan 2012 EST, First published: 02:59 25 Jan 2012 EST

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Kazakhstan-focused Max Petroleum (LON:MXP) has started drilling the SAGW-3 appraisal well on the Sagiz West Field in Block E.

Total depth of the well will be approximately 1,400 metres, targeting Triassic reservoirs.

Max had reported in December that the first appraisal well for the Sagiv West discovery, SAGW-2, did not encounter producible hydrocarbons.  While it found oil shows, the results indicated it was drilled close to the edge of the field.

President and chief financial officer Michael B Young said in December: "While not commercial, the SAGW-2 well has provided additional insight into the shape of the eastern flank of the field, and we remain confident that we can successfully appraise the Sagiz West discovery with the next two wells."

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