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Doris Oil Field

Alt: doris-oil-discovery-side

The AKD01 is the first deep exploration well drilled under the Akkulka Exploration Contract on the Akkulka block and has tested oil at an aggregate rate over 6,800 barrels of oil per day.

Well AKD01 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 combined flow rate of these two tests in this well was over 8,200 barrels of fluid per day.

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 is currently producing oil under a Pilot Production Contract and oil from the same Doris discovery horizons has tested successfully from wells AKD05 and 6 and there is a further discovery, Dione, in an Upper Jurassic sand in well AKD03.

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 and the appraisal programme on the Doris oil discovery, the Dione field south of Doris and further exploration on the Akkulka block is continuing.

Alt: doris-oil-rig

Commercialisation of Doris – Aral Oil Terminal (“AOT”)

The opening of AOT allowed the Company to initially increase production to approximately 3,000 barrels of oil per day ("bopd") due to a halving of the road trucking distance, and is dedicated solely to Tethys oil sales. The AOT reduces transportation costs significantly which results in an increased realised oil price. The acquisition of additional road trucks means that 70 are in daily operation.

The AOT facility construction comprises three phases:

Phase 1 – Completed

The Phase 1 facility had a loading capacity of 4,200 bopd and a storage capacity of 1,300 bbls. Under Phase 1 operations, the terminal had the ability to unload 10 road tankers and to simultaneously load 5 rail tankers.

Phase 2 – Completed

In 2013, the construction of Phase 2 of the AOT facility was completed. The completion of Phase 2 provides for an increase in throughput capacity from 4,200 bopd up to 6,300 bopd with the installation of two 1,000 m3 crude oil storage tanks (approximately 12,500 bbls) and associated pumping equipment.

Phase 3

Phase 3 - (electrical dehydration/desalination equipment) is currently suspended due to low oil prices.