Max Petroleum Plc, an oil and gas exploration and production company focused on Kazakhstan, is pleased to announce that the Government of the Republic of Kazakhstan has granted regulatory approval to convert the Borkyldakty Field to full field development (“FFD”) status effective immediately. FFD approval will allow Max Petroleum to fully develop and produce the Borkyldakty Field and sell 80% of crude oil production from Borkyldakty on the export market under the terms of its Blocks A&E exploration and production contract. Borkyldakty is currently capable of producing approximately 200 barrels of oil per day from its two productive wells and a third development well, BOR-4, is planned to be drilled in the field in August 2013.
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