The field was discovered in 1972 and produced a total 89 Bcf of gas before operations were suspended in January 2006. In June 2006, YGE was granted a new 20 year licence to rehabilitate and further appraise and develop the field.
Following the acquisition, the detailed technical and environmental re-evaluation by JKX concluded that the existing production facility would have to be completely replaced because it could meet neither the new gas specification required for entry to the Gazprom transit system nor the environmental standard for emissions to the immediate environment.
Commercial gas sales from the GPF commenced in 2012.
as at 31 December 2011
|Oil + Gas (MMboe)
Also in 2012 YGE was awarded the 170.7 sq km Giorgievskoye exploration licence which lies adjacent to, and immediately south of the 32.65 sq km Koshekhablskoye production licence.
A significant part of the Giorgievskoye licence also runs to the northwest of the Koshekhablskoye field and covers its east and west flanks.
Acquisition of the Giorgievskoye licence ensures that the whole of the mapped field area is now secured under licences held by YGE.
Mapping and material balance reserves determinations have indicated that a further 30-90 Bcf of contingent Oxfordian gas resources could be recovered by additional drilling, together with a total 140-180 Bcf of Callovian gas resources. There is also an additional lead in the south of the block, beyond the existing 3D seismic coverage, with estimated P50 gas resources of 30 Bcf unrisked.