TMK starts drilling seventh gas production well in Mongolia
Canadian firm Major Drilling is drilling the LF-07 pilot production well to further reduce the reservoir pressure towards the targeted critical desorption pressure. The additional well should boost the depressurisation sought at the project and bump up total production capacity.
A recent independent technical review recommended management utilise the larger TDX200 rig, which also has a more advanced mud system to drive drilling efficiencies.
The new well is being completed on a fixed cost 'turnkey' contract with Major Drilling to minimise TMK's exposure to cost overruns.
The Canadian-based drilling firm has drilled all six previous pilot wells at the project site.
The Lucky Fox project, which is part of TMK's wider Gurvantes XXXV coal seam gas project, has progressively lifted gas output this year, setting several monthly records for gas volume produced.
The company expects to shortly produce commercial rates of gas across its 60-square-kilometre project in the Nariin Sukhait area of Mongolia's vast countryside.
TMK Energy chief executive officer Dougal Ferguson said: 'We have commenced drilling of our seventh pilot production well in the Lucky Fox Pilot Well project, which is another positive step forward for the project… With all six existing wells on production, including LF-05, which has recently been successfully remediated, we look forward to bringing LF-07 on production and continuing to grow our gas production capacity.'
Management has recently had pressure build-up tests conducted at its LF-01, LF-02 and LF-03 wells, encouragingly demonstrating significant reductions in the reservoir pressure within the past two years and providing an overall improvement in reservoir depressurisation.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
West Australian
4 hours ago
- West Australian
UK grants space launch licence to Scottish firm
Britain has granted its first space launch licence to a homegrown rocket company, paving the way for a Scottish start-up to send satellites into space from the UK's first vertical launch spaceport. Skyrora, which was founded in 2017, would be able to conduct up to 16 launches a year, subject to further approval by the UK Civil Aviation Authority (CAA), the regulator said. The Scotland-based company would use the SaxaVord Spaceport in the Shetland Islands, northern Scotland, which received a key safety licence last year, meaning rockets could be launched from the site in the future. However, SaxaVord has told Skyrora that there is no availability for a launch in 2025, the Financial Times reported. Skyrora chief executive Volodymyr Levykin said in a statement the firm's priority was to launch from Britain but it expected a delay. "Despite having a vehicle ready and a launch license, it is unlikely that Skyrora will be able to complete its launch from the UK this year," Levykin said. He said the company had options to launch from Australia, Oman and potentially Iceland. "Granting a home-grown company, Skyrora its launch licence is a major milestone for our space sector and our nation," CAA chief executive Rob Bishton said. The space market is forecast to be worth over $US1 trillion by 2030 as companies around the world plan to deploy thousands of internet-beaming satellites. Britain has been looking to add launch capabilities to its space industry, which employs over 45,000 people and builds more satellites than anywhere outside the United States. But those efforts were dealt a major blow in early 2023 when a horizontal rocket launch from Newquay, southwest England, failed. A successful vertical launch from SaxaVord would revive the industry's prospects. Skyrora needs to meet a number of conditions before any launch, including adequate insurance, a data-sharing deal with the British government and airspace agreements with other countries.
Perth Now
4 hours ago
- Perth Now
UK grants space launch licence to Scottish firm
Britain has granted its first space launch licence to a homegrown rocket company, paving the way for a Scottish start-up to send satellites into space from the UK's first vertical launch spaceport. Skyrora, which was founded in 2017, would be able to conduct up to 16 launches a year, subject to further approval by the UK Civil Aviation Authority (CAA), the regulator said. The Scotland-based company would use the SaxaVord Spaceport in the Shetland Islands, northern Scotland, which received a key safety licence last year, meaning rockets could be launched from the site in the future. However, SaxaVord has told Skyrora that there is no availability for a launch in 2025, the Financial Times reported. Skyrora chief executive Volodymyr Levykin said in a statement the firm's priority was to launch from Britain but it expected a delay. "Despite having a vehicle ready and a launch license, it is unlikely that Skyrora will be able to complete its launch from the UK this year," Levykin said. He said the company had options to launch from Australia, Oman and potentially Iceland. "Granting a home-grown company, Skyrora its launch licence is a major milestone for our space sector and our nation," CAA chief executive Rob Bishton said. The space market is forecast to be worth over $US1 trillion by 2030 as companies around the world plan to deploy thousands of internet-beaming satellites. Britain has been looking to add launch capabilities to its space industry, which employs over 45,000 people and builds more satellites than anywhere outside the United States. But those efforts were dealt a major blow in early 2023 when a horizontal rocket launch from Newquay, southwest England, failed. A successful vertical launch from SaxaVord would revive the industry's prospects. Skyrora needs to meet a number of conditions before any launch, including adequate insurance, a data-sharing deal with the British government and airspace agreements with other countries.
Sydney Morning Herald
8 hours ago
- Sydney Morning Herald
Perth investor says he lost millions in alleged fraudster's ‘Ponzi scheme'
A former client says he lost millions in his dealings with an alleged Perth fraudster who often bragged about his connections with high-level banks across Europe and painted his lucrative investment scheme as 'exclusive and for those in-the-know'. However, private investor Chris Marco has admitted he was using their money to pay returns to other clients in what one witness told his West Australian Supreme Court trial on Tuesday 'reeked of a Ponzi scheme'. Marco is on trial, facing 44 charges after allegedly defrauding investors of about $36.4 million. His former executive assistant, Linda Marissen, has been charged with 30 offences for her alleged role in the crimes. Both have pleaded not guilty to all charges. Giving evidence on Tuesday, Perth-based accountant Charles Napoli said he decided to invest when he became aware of Marco through one of his clients. He invested $1 million with Marco, who promised to invest his money in lucrative overseas investment structures called 'private placements'. Private placements are when a company raises money by selling shares, bonds, or securities to a select group of private investors, rather than through the public stock exchange. Napoli said he was a risk-averse investor, but he was assured by Marco's promise his principle investment would be kept in a blocked bank account that had a multimillion-dollar insurance policy attached. He said it gave him confidence that he could invest with the Nedlands-based businessman, as well as his 'experience' in the financial sector. Napoli said Marco regularly spoke about the 'four or five years' he spent in Europe learning about private placements and investing, and how he had 'all the right connections'.
