Tethys Petroleum reports the results of testing the exploration well Klymene KBD-02 drilled in the companyâs Kul-Bas contract area (block 1897RD Kul-Bas), North Ustyurt Basin. The test period for the first zone (Jurassic) has been completed and the testing for the second potential zone has been initiated. The test in the first zone was done using different choke sizes between 5 and 11 mm. The 11 mm choke increased production to over 700 bo/d from 400 bo/d on 9 mm choke achieved in June.  Tethys has now tested a second zone at depths of 2127.4 - 2145.4 m (possibly in the Cretaceous). The test produced at an average rate of 15.5 tonnes/hour or 372 t/day (approximately 2,700 bo/d) using an 11 mm choke. On a 9 mm choke, the average production rate was 276 t/day (2,000 bo/d). The oil quality is high, the pressure is very good and currently there is no water present.  Over the next 10-12 days, wireline logging, work with different chokes and pressure tests will be carried out. The current storage and distribution capacity on the site is limited and this may affect Tethys' ability to run tests with larger choke sizes.   The well has been drilled to a TD of 2,750 m, it was spudded in summer 2019. The well was originally supposed to take between 3 and 4 months to complete but took longer time due to a combination of circumstances including finance, harsh weather and the pandemic.   Background Information  Klymene is located to the west of the current producing fields in Tethysâ Akkulka exploration contract (Kyzyloy, Doris, Akkulkovskoye and others). The prospect was identified from seismic acquired and interpreted by Tethys in 2013 and indicates a four-way dip closure with bright spots at 2 of 3 prospective stratigraphic levels within the Cretaceous and Jurassic sequences, both of which are productive in the Doris oilfield some 60 km to the east. The Klymene prospect has the potential to be an order of magnitude bigger than the Doris oil discovery and surrounding prospects (the geographical area of the prospect is up to 10 times the areal extent of the Doris oil field). Klymene has been independently estimated to hold 422 MMb of unrisked mean recoverable oil resources.  Tethys has previously drilled one exploration well, Kalypso KBD 01, in the Kul-Bas contract area. The well has not been completed.  In February 2020, the company received confirmation of an extension of the Kul-bas Exploration Contract until December 31, 2022.
(North Ustyurt b.) Klymene KBD 02 explo well, operated by TETHYS PT (100%) in 1897RD Kul-Bas block, was now tested in a second zone at depths of 2127.4 - 2145.4 m (possibly in the Cretaceous). The test produced at an average rate of 15.5 tonnes/hour or 372 t/day (approximately 2,700 bo/d) using an 11 mm choke. On a 9 mm choke, the average production rate was 276 t/day (2,000 bo/d). The oil quality is high, the pressure is very good and currently there is no water present.  