Gulf Keystone has proved the value of the giant Shaikan filed in Northern Iraq after conducting well appraisal tests at its Shaikan-2 well, drilling is also continuing apace at its Shaikan-4 well.
The Shaikan field is a major discovery with independently audited gross oil-in-place volumes of between 4.9 billion barrels to 10.8 billion barrels.
Shaikan-2 Well Test Update
Company has now completed a flow test in the lower section of the Kurre Chine B zone in the Upper Triassic zone of the Shaikan-2 Appraisal Well drilled approximately nine km to the south-east of the Shaikan-1 discovery well.
The flow test in Shaikan-2 achieved flow rates of 2600 barrels of 40 degree API oil per day with associated gas of 5.4 million ft3/d through.
So far, the Company has conducted three wells tests on Shaikan-2 with the maximum aggregate flow rate in excess of 15,000 bpd of oil with up to five additional tests still to be performed as part of the ongoing Shaikan-2 testing programme in the Triassic and Jurassic.
The Shaikan-4 Appraisal Well, drilled six km to the west of the Shaikan-1 discovery well, is currently drilling ahead at a measured depth of 2580 meters. Preliminary well logs through the upper Jurassic indicate that the net pay count on this well for the upper Jurassic reservoirs is significantly better than those achieved with either Shaikan-1 or Shaikan-2.
John Gerstenlauer, Gulf Keystone's Chief Operating Officer commented,
"This latest in a series of successful Shaikan-2 well tests follows the announcement of the new Triassic discovery made with this well earlier this month. Together with the progress in the Shaikan-4 drilling operations and the oncoming spudding of Shaikan-5, it is a confirmation of Gulf Keystone's success in both drilling and proving the value of the giant Shaikan field, which is our immediate focus".