Gulf Keystone finds oil in Iraq's Kurdish region
Gulf Keystone Petroleum International Ltd. (GKP) reported its Shaikan-1 well in Iraq’s Kurdish region on Shaikan Block, 85 km northwest of Erbil, found oil in the Middle Jurassic Sargelu formation at a depth of 1,450-1,510 m.
OGJ Oil Diplomacy Editor
LOS ANGELES, Aug. 11 -- Gulf Keystone Petroleum International Ltd. (GKP) reported its Shaikan-1 well in Iraq’s Kurdish region on Shaikan Block, 85 km northwest of Erbil, found oil in the Middle Jurassic Sargelu formation at a depth of 1,450-1,510 m.
GKP said preliminary test rates indicate 5,000-8,000 b/d of 21-22º gravity oil with wellhead pressures of 380-295 psi. The company said the oil’s properties are comparable to oil produced at Tawke field to the northwest of Shaikan Block.
Exports from Tawke field, operated by DNO, started on June 1 after approval by Iraq's central government. Production in the first quarter averaged 1,908 b/d and 5,965 b/d in the second quarter.
GKP plans to use information from Shaikan-1 along with seismic surveys and geological data to evaluate the formation. The company said its preliminary estimate for the tested interval is “300-500 million bbl of oil in place.”
In addition to the well test results, GKP said the primary zones of interest for the Shaikan-1 are the Lower Jurassic Alan and Mus formations.
GKP said indications are that “these formations will yield additional oil-bearing zones as we drill ahead to our next casing point at approximately 2,500 m…before subsequently reaching final target depth at 3,200-3,500 m.”
Last month, GKP decided to focus its attention on Kurdistan and announced plans to seek a buyer for its interest in the Hassi Ba Hamou Permit in central Algeria.
Just days after that announcement, GKP was granted production-sharing contracts by the Kurdish Regional Government (KRG) for Sheikh Adi and Ber Bahr blocks near the city of Dihok in the vicinity of Mosul.
GKP will operate Sheikh Adi with an 80% stake and Ber Bahr with a 40% stake, while the KRG will maintain a 20% stake in both blocks.
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