Kulczyk Oil Ventures has started drilling the M-19 well in Ukraine, the first to be drilled since its acquisition of a 70% interest in KUB-Gas in June 2010.
The M-19 well, which is being drilled in the Makeevskoye licence area, is owned by KUB-Gas.
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With an initial target depth of 2,100m for the well, Kulczyk will evaluate three distinct gas zones identified on 2D seismic data, two of which are structurally independent from the producing Makeevskoye field 1.2km away.
A 1,000hp drilling rig, which was built in Canada, is being used to spud the well.
Kulczyk owns a 70% interest in KUB-Gas LLC. The gas-producing assets of KUB-Gas consist of 100% interests in four licences near Lugansk in north-east Ukraine.
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By GlobalData
