Ukraine: KOV Spuds Krutogorovskoye-7 Well

Kulczyk Oil Ventures (KOV) has announced that subsidiary KUB-Gas has begun drilling on its latest Ukrainian well with the spudding of the Krutogorovskoye-7 (K-7) well.

The Krutogorovskoye permit, which KUB-Gas was granted in 2004, is located adjacent to the company's Vergunskoye field and around 105 kilometres from three of KUB-Gas's other fields, the Olgovskoye, North Makeevskoye and Makeevskoye fields.

KOV said yesterday in a statement that it expected drilling on the deviated well to take 50 days and to reach a measured depth of 3,200 metres and a true vertical depth (TVD) of 3,100 metres. The well aims to evaluate the potential of the well, furthering 2D seismic already performed on the site.

Independent study of the well has already confirmed substantial resources on the well site. Conducted by RPS Energy, the study estimates reserves of 9 billion cubic feet (Best Estimate) with highest estimates of 19.4 billion cubic feet and lowest estimates of 2.4 billion cubic feet.

K-7 will target Moscovian and Bashkirian age reservoirs, KOV said. 

KUB-Gas is the 100 per cent owner and operator of the Krutogorovskoye permit. Kulcczyk Oil Ventures holds a 70 per cent stake in the project through the same stake in KUB-Gas.