A new exploration acreage adjacent to a giant field in Central Asia - Kazakhstan

MOL Group has a new, attractive exploration project adjacent to Karachaganak, one of the world’s largest petroleum fields. The Federovskoye Block exploration program includes completion of the deep pre-salt Zhaik well, spudding of a second pre-salt well and shooting a 3-D seismic survey over a third prospect.

In Kazakhstan, MOL Group is the operating shareholder, with a 27.5% interest, in the 2,400 square kilometer Federovskoye Block, in the northern part of the country. Our partners are the FIOC and Exploration Ventures oil companies. The license covers an area adjacent to the giant Karachaganak field.

The Federovskoye Block exploration program is now in Phase 2, which involves the surveying of 150 square kilometers of 3D seismics, and the drilling of one exploration well.

Earlier, in summer 2005, the first wildcat well (Zhaik 1) was drilled. The well, although were suspended for technical and safety reasons, has recovered high quality gas-condensate and light oil with no measurable sulphur or H₂S from pre-salt carbonate reservoir content.