The AKD-01 well was the first deep exploration well drilled under the Akkulka Exploration Contract on the Akkulka block and has produced in excess of 4 million barrels of oil.
AKD-01 encountered two oil bearing zones, the lower zone being an Upper Jurassic carbonate sequence at approximately 2,355 metres and an upper, Lower Cretaceous sandstone zone at approximately 2,174 metres. Oil shows were also encountered in the Triassic sequence but not tested. Oil quality is very good in both zones, with the lower zone having 46 degree API low sulphur crude and the upper zone 37 degree API low sulphur crude.
The upper lower Cretaceous sandstone interval showed extremely good permeability (in excess of 1.0 Darcy) and a large investigated distance and therefore a large connected volume, that indicates a very high quality laterally extensive reservoir. The lower carbonate zone also showed good permeability with a large investigated distance and significant connected volume.
The Company produced oil under a Pilot Production Contract and oil from the same Doris discovery horizons has tested successfully from wells AKD-05 and AKD-06 and there is a further discovery, Dione, in an Upper Jurassic sand in well AKD-03.
There is very good potential exploration in the area. Further similar prospects have been mapped in the Akkulka and Kul-Bas block near to Doris. A full appraisal programme on the Doris oil discovery, the Dione field south of Doris and further exploration on the Akkulka block is subject to funding.
The AKD-12 well drilled at Akkulka in 2020 has been tested and has produced gas at a rate of approximately 29.4 thousand cubic meters per day using a 6mm choke, and approximately 34.5 thousand cubic meters per day using an 8mm choke. The interval perforated was 587.97-592.57 meters. The company is planning to complete the AKD-12 test and then contract this rig to spud the next well at Akkulka. This new well will target the same shallow gas zone (approximately 600 meters). The AKD-12 well will not likely go into production until 2022. This well is in a new structure and will require new approvals as well as construction of a new pipeline to the well. The plan is to drill additional offset wells to AKD-12 to develop this new structure.