VOL. XLV

No 12

25-March-2002

CASPIAN

RamcoAbandons Karas-1 Well In Georgia

Ramco Energy plc ofthe UK announced on 6 March that it will abandon its Karas-1exploration well in the Block X production sharing agreement (PSA) in the Kaheti region of Georgia. Ramco said in a statement thatthe well reached its target depth of 2,900ms but failed to find commercialhydrocarbons. However, Ramco said it would study thedata obtained from the well before it discussed the future of the block withthe Georgian...