Caspian Sunrise PLC (AIM:CASP) has spudded the first well at its West Shalva Contract Area in Kazakhstan.
It is expected that the well will be drilled down to 3,000 metres and take around two months to complete.
The company completed the acquisition of the West Shalva asset earlier this year, in April, picking up the c.25 square kilometre area that includes a Soviet-era discovery, and is located around 20 kilometres from the Zhetybai oil field.
West Shalva was acquired for an initial $5 million (potentially rising to $20 million subject to future results).
The new well will target two zones, Jurassic sandstone at around 2,300 metres and Triassic limestone at about 2,600 metres.
Caspian Sunrise expects drilling at West Shalva to be less challenging compared to its prior operations at the BNG and Block 8 assets, as it will be shallower and without extreme weather conditions.