Kulczyk Oil Ventures Ties-in Ukrainian Olgovskoye-12 for Production

Kulczyk Oil Ventures (KOV) says it has tied-in its Olgovskoye-12 well for production, increasing the Polish company's gas production in Ukraine by 40 per cent.

The Olgovskoye-12 well, which is operated by Kulczyk's 70 per cent owned subsidiary KUB-Gas, began production on January 1st 2012. It is currently producing at a rate of 4.6 million cubic feet of gas a day.

The well has previously been tested at a production rate of 8.1 MMcf/d on a 10 mm choke, but KUB-Gas says that it is now applying a restricted production rate initially. Kulczyk said that good practice dictated that production be restricted to avoid damage to the reservoir.

KUB-Gas's total production of gas from Ukraine has so far this year measured 16.5 MMcf/d (KOV net 11.6 MMcf/d) since January 1st and more than 17 MMcf/d (KOV net 11.9 MMcf/d) since January 4th, with an average of more than 200 barrels of gas condensate produced a day.

The production is an increase of 40 per cent on December's figures, with production for that month measured at 12.1 MMcf/d of natural gas (8.5 MMcf/d net to KOV) and 130 barrels per day of condensate.

Kulczyk says that production is set to begin on two previously fracture stimulated wells, O-6 and O-8 in the first quarter of this year.