MNP Petroleum Corporation announced that its subsidiary CJSC Somon Oil, has commenced operation on its Western license by starting the preparation of the drilling location and access road for its first well in Tajikistan
CJSC Somon Oil is a Tajik company whose 90 per cent shares are owned by DWM Petroleum AG, a wholly-owned subsidiary of MNP.
CJSC Somon Oil is the license holder and operator of the Western license, covering the Zapadnyi (Novobod and Obchai-Kalacha allotments) contract area, and the Northwestern license, covering the Severo-Zapadnyi contract area. Both licenses are located in the prolific Fergana Basin in the Sugd region northern Tajikistan, and both licenses are operated under a Production Sharing Contract.
Interpretation of recently acquired seismic has resulted in several drill ready prospects and CJSC Somon Oil has selected Kayrakkum B as the first well to be drilled, according to the company. It is intended to spud beginning of the third quarter 2014.
Dr. Werner Ladwein, CEO and president of MNP, said, "Achieving this milestone for the exploration campaign of MNP in Tajikistan is a very important step for the exploration of this part of the Fergana basin."
