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Timan partner needed to tap Caspian


Published Oct 3, 2007
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Caspian offshore Timan Oil and Gas
courtesy Timan Oil & Gas

London-based Timan Oil & Gas has an offer of an offshore drill rig from Azeri state oil company SOCAR, if it can find a farm-in partner for a Block 2 drilling program in the Caspian Sea.

The jack-up rig Khazar awaits Timan business Geotermneftegaz in the Russian Caspian sector provided an-company partner can pay the bill, it was understood Wednesday.

While the Block 2, Izerbash acreage is believed to hold much promise, the company focus remained getting “the Timan-Pechora Nizhnechutinskoye (NGPT field) to pilot production".

At least nine prospective leads have been identified on the Izberbash Block totalling “500 MMbbls of oil potential”. A closer evaluation of reserves is due out late in 2007 by Houston-based consultants Miller & Lents.

ws@scandoil.com



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