Texaco Press Release - Texaco Completes 3-d Seismic Acquisition At Its North Buzachi Field
FOR RELEASE: WEDNESDAY, OCTOBER 4, 2000
Aktau, Kazakhstan, Oct. 4 - Texaco today announced that it has completed 3D seismic acquisition at its North Buzachi onshore field in the Mangistau province of Kazakhstan.
The seismic contract was awarded to local company, Geotex, earlier this year, with the 3D seismic component commencing in May. The work has been conducted over a 92 square kilometre area and employed a local workforce of over 300 people. The company continues to undertake 2D seismic work at the field which is expected to be completed by November 2000.
Commenting on the completion of the 3D seismic program, Mark L. Johnson, Vice President of Texaco North Buzachi Inc. said: "Knowledge gained from the ongoing assessment work is important to our understanding of how to best develop the field. Texaco's Phase One program proved both vertical and horizontal well technology could be effectively applied to the field and the next phase of activity will further delineate the field and pilot test secondary recovery methods."
"Texaco has a successful track record in using the latest cutting-edge, cost-effective technology to recover heavy oils and we are keen to work with our business partners and the government to establish this field's full potential," said Johnson.
"We are fortunate to have a hard working and highly skilled workforce employed at the field with local content at the cornerstone of Texaco's in-country policy. Currently about 1,200 people are working at the field, both TNBI and contractors; and only 22 positions are held by Texaco expatriates, " said Johnson.
Texaco's stringent safety and environmental standards form an integral part of any contract award reflecting the company's commitment to safety and protecting the environment.
Texaco is operator with a 65 percent interest in the North Buzachi field, with Nimir Petroleum Limited holding the remaining 35 percent interest.
Updated: October 2000