A&D marketing for the oil and gas industry

Kazakhstan

Kazakhstan

Envoi has been commissioned by privately owned Lucent Petroleum LLP, to assist in the search for investors to join them in the pilot development and potential deep target exploration of the Lebyazhye field. Their 100% owned and operated onshore Yuzhnaya Block, which covers an area of 1,341 km2 of the North Caspian Basin, western Kazakhstan, lies in a well-established hydrocarbon producing area. This region’s hydrocarbon potential is already proven by existing fields including the giant six billion barrel Tengiz field, which lies north of Lucent’s acreage. Lucent’s Block is itself surrounded by numerous other producing fields which have established export and service infrastructure.

Of the two existing oil and gas fields on Lucent’s Block, a partner has already been found to assist with the pending development of the Munaibai field. Lucent is therefore now seeking a partner for a staged investment in the Lebyazhye development. Discovered in 1980, Lucent’s 2011 appraisal well (LX-14x) supported the field’s estimated 27 MMboe Triassic reserves which will be exploited by the initial re-entry of the four existing discovery and appraisal wells with a view to first production of between 300 – 500 bopd in late 2017.  Two subsequent horizontal side-tracks are planned for 2018. This would be followed in 2019 by a deepening of the LX-14x well to test additional 150+ MMboe resource potential identified by Lucent in the deeper Carboniferous reef play that has not been tested in this Block. A number of follow-on leads have also been identified, with additional potential in deeper Carboniferous and Devonian plays already proven in the region.

Lucent is offering up to 50% in the Lebyazhye field development in return for a staged investment totalling US$ 25.4 million and involvement in the initial, early cash flow development of the existing Triassic resource and subsequent test of the potentially much larger, deep Carboniferous potential.