Gulf Oil and Gas accountACCOUNT

Shaikan Field Starts Crude Oil Exports

Source: www.gulfoilandgas.com 1/9/2014, Location: Middle East

Gulf Keystone, a leading independent E&P operator in the Kurdistan Region of Iraq, provides an operational and corporate update. Significant progress has been made since the Field Development Plan (FDP) for the Shaikan field was approved in June 2013. In July 2013 the Company commenced commercial production, marking Gulf Keystone's transition to an operator with revenue generation. In December 2013 crude oil exports from the Shaikan field commenced.

Shaikan Production Update
Gulf Keystone is pleased to announce the commencement of crude oil exports from the Shaikan field. In line with the Company's marketing strategy, which is being developed in co-operation with the Ministry of Natural Resources of the Kurdistan Regional Government, the first tendered cargo of between 30,000 tonnes (198,300 barrels) and 33,000 tonnes (215,000 barrels) of Shaikan crude was trucked to Turkey in December and will be loading at the port of Dortyol this month.

A second tender is underway for two further cargoes of similar size of Shaikan crude, which are expected to be loaded later this month and during February. Sales realisations are expected to be in accordance with the terms of the Production Sharing Contract for the Shaikan Block (Shaikan PSC) and will reflect transportation and quality adjustments.

The first Shaikan production facility (PF-1) is in operation with two wells currently tied to the facility, namely Shaikan-1 and -3. The flowlines from Shaikan-4 to PF-1 are now complete and the well has been worked over as a Jurassic Sargelu producer prior to being tied to PF-1 in early 2014.

Work at the second Shaikan production facility (PF-2) is nearing completion with electrical and instrumentation work ongoing. The Shaikan-2, -5, and -10 wells have been completed as Jurassic Sargelu producers and the flowlines from these wells to PF-2 are currently being laid.

Current average oil sales from PF-1 stand at between 9,000 and 10,000 barrels per day of export quality crude. The Company will provide an update on well performance and combined production capacity of PF-1 and PF-2 as the additional four wells become operational.

Shaikan Field Development Plan - Phase 1
During Phase 1 of the Shaikan development, the Company will seek to achieve 100,000 bopd of production. As set out in the FDP, the Company will be undertaking an active development drilling campaign as well as installing additional production facilities.

The Shaikan field is expected to be connected to the main export pipeline from the Kurdistan Region of Iraq to Turkey, which was finalised in late 2013. A review of the FDP will include Phase 2 Cretaceous, Triassic and, potentially, Permian development.

A key element of the FDP is the commencement of a sour gas injection project. Shaikan-8 was completed as the first sour gas reinjection well and bids have been tendered for gas compressing equipment required to increase plant production capacity, which is subject to well performance and emissions constraints, from the near-term target of 40,000 bopd to the Phase 1 target of 100,000 bopd. The sour gas injection project is expected to be finalised in 2015.

Financing decisions in order to fund the Phase 1 activities will be made in conjunction with anticipated steady oil production and sales from PF-1 and PF-2 in 2014.

Exploration & Appraisal
Drilling of the Shaikan-7 deep exploration well is continuing in the Jurassic formation, after the top drive of the Weatherford 319 rig had to be replaced. The well is currently drilling 17 ˝" hole below 2,300 metres in the Butmah reservoir. Shaikan-7 will drill into the Triassic and is then expected to penetrate the Permian with a potential to add to already discovered resources, and first results are expected in Q2 2014.

For more information about related Opportunities and Key Players visit Iraq Oil and Gas Projects

Development News in Iraq >>

Indonesia >>  10/9/2019 - Australian-based, Indonesian oil producer, Bass Oil Limited (BAS) is pleased to provide its monthly operations update for September 2019. Total field ...
Iran >>  10/9/2019 - Iranian Minister of Petroleum Bijan Zangeneh said there had been talks with a number of domestic firms to develop the South Pars Oil Layer (SPOL), how...

Libya >>  10/9/2019 - A delegation from National Oil Corporation (NOC) met Petrofac representatives at the company’s London headquarters, on the sidelines of the Oil & Mone...
Russia >>  10/9/2019 - Messoyakhaneftegaz has commissioned a horizontal well at the Vostochno-Messoyakhskoye field, facilitating the full-scale development of Achimovsky dep...

Australia >>  10/7/2019 - Transborders Energy (Transborders) is pleased to announce it has entered into a Joint Study Agreement with Mitsui O.S.K. Lines, Ltd. (MOL) to together...
Azerbaijan >>  10/4/2019 - Saipem, in consortium with Boshelf LLC and STAR GULF FZCO, has recently been awarded three new contracts by BP for the development of the Azeri-Chirag...

Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  Food Supplies  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Unskilled Labors  Utility Systems  Waste Disposal  Water Supply Services  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Skilled Labors  Transportation, 4X4 Trucks  Utility Systems  Water Supply Services  Welding Products/Services 


Iraq Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 |

Oil & Gas Projects in Iraq >>

More News

Related Links

Gulf Oil and Gas
Copyright © 2019 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.