Mailisu III Project
Separate from the joint venture with Santos, Caspian has acquired a 70% interest in the Mailisu III oilfield under a joint venture with the Kyrgyz Government's oil company, KNG.
Caspian has completed four exploration wells on Mailisu III and encountered oil in each well from shallow Palaeogene limestone beds, with only modest flow rates to date. Further assessment work is required before the possibility of using production enhancement techniques is assessed.
Mailisu III adjoins the southern boundary of Caspian's Ashvaz exploration licence. In its 1994 report on the Fergana Basin, the US Geological Service estimated oil reserves of approximately 6 million barrels for the Mailisu III licence, approximately 1 million of which has been produced to date.