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The well is the first of 11 planned for Caspian’s licences in the historic Fergana Basin, which has been producing oil for more than 100 years but has only seen limited exploration using modern techniques.
The first well site is on the Ashvaz block near the town of Mailisu, and there are plans to test the northern limits of the producing Mailisu III field.
Drilling is expected to take a fortnight to reach a total depth of 800m.
Caspian said an earlier stratigraphic well drilled nearby intersected several metres of oil-bearing carbonate reservoir.
The Mailisu III field has produced over 700,000 barrels of oil to date.
Under a farm-in agreement, Caspian has the rights to the shallow potential of some northern Fergana licences, while partner Santos focuses on the deeper potential.
As a result, the Ashvaz block is one of those northern licence areas where Caspian retains 100% rights to any oil down to 1000m.
