Roxy, LG launch tentative crude production in Kazakhstan

January 24.  Universal Newswires

Roxy, LG launch tentative crude production in KazakhstanLondon-listed Roxi Petroleum said Monday it launched tentative crude production in Kazakhstan with South Korean trading company LG International Corporation.

The partners began small scale production on Thursday at the Galaz contract area in western Kazakhstan.

Initial pumping of the NK-6 well at the NW Konys field in the Kyzlorda region is achieving around 225 barrels of oil per day, Roxi said in a statement.

The crude is being transported from their facilities by trucks to a local operating company KuatAmlonMunai (KAM) to supply domestic demand.

“We now look forward to enhancing production levels from the NW Konys field, starting first with well NK-4 and thereafter from further appraisal wells as they are completed throughout 2012,” Roxy chief David Wilkes said in the statement.

“Pilot production at NW Konys represents a significant milestone for Roxi, and is the first of three fields we plan to bring into production in 2012.”

Roxi bought a 43.22 percent working interest in the field to secure a source of crude for LG International as its farm-in partner and field operator.

The project received approvals from Kazakh energy authorities last month.

http://www.universalnewswires.com/centralasia/kazakhstan/viewstory.aspx?id=11222

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