LONDON (Alliance News) - Max Petroleum PLC said Tuesday that it will plug and abandon the KZIE-3 appraisal well in the East Kyzylzhar I Field as it did not encounter sufficient hydrocarbons after drilling.
The Kazakhstan-focused oil and gas company said it completed drilling the KZIE-3 appraisal well in the East Kyzylzhar I Field to a vertical depth of 1,315 metres without encountering sufficient hydrocarbons to be commercial.
The company said the well will now be plugged and abandoned.
The Zhanros ZJ-30 rig will next move to the Zhana Makat Field to drill the ZMA-E7 development well, said Max Petroleum.
Shares in the company were trading 3.77% lower at 1.15 pence per share Tuesday morning.
By Alice Attwood; aliceattwood@alliancenews.com; @AliceAtAlliance
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