(MENAFN- ProactiveInvestors - Australia) Jupiter Energy (ASX:JPR) has received trial production licences for the J-51 and J53 wells from the Kazakhstan regulatory authorities.
With the licence, both the J-51 and J-53 wells can be produced under trial production for a maximum of 3 years. Oil produced during this period will be sold into the domestic market.
Jupiter now plans to develop the required infrastructure to move these wells from trial to full production, which will enable it to export the oil.
J-51 well will now resume production at about 600 barrels of oil per day while the workover of J-53 well will now be completed and a stabilised flow rate established.
Jupiter is also production testing the J-55 well, and around 50 cubic metres of oil has been recovered to the surface.
Production testing of the J-58 well will start this month as Jupiter has already obtained all the approvals. Initial testingw ill be carried out at the T2B horizon and this will be followed with testing of the T2A horizon and each production testing will be for a maximum of 90 days.
Jupiter Energy is focused on developing its onshore assets in western Kazakhstan. In 2008, it acquired 100% of the Block 31 permit, located in the oil rich Mangistau Basin, close to the port city of Aktau.
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