Gulf Keystone provides update on activities in its Kurdistan blocks

Source: www.gulfoilandgas.com 6/25/2008, Location: Middle East

Shaikan Block: The Shaikan Block is operated by Gulf Keystone Petroleum International Ltd.("GKPL") with a working interest of 75% in partnership with both Kalegran Ltd ("Kalegran"), a subsidiary of MOL Hungarian Oil and Gas Public Limited Company ("MOL"), and Texas Keystone Inc. ("Texas Keystone") with working interests of 20% and 5% respectively.

The 2D seismic programme which was completed in April 2008 acquired 171 kilometres using a combination of vibrator and dynamite sources and satisfies the seismic acquisition obligation under the exploration phase of the PSC. A preliminary interpretation by the Company's internal technical team of the processed data has confirmed the existence in the subsurface, at the depth of prospective reservoir zones, of the large anticline which is visible at the surface outcrop and is at the surface some 26 kilometres in length and 5 kilometres in width. The Company is planning to drill a well on the crest of the anticline for late 2008 to be drilled to approximately 3,500m. The well will target reservoir zones where oil has been discovered elsewhere in Kurdistan and northern Iraq, namely the Qamchuqa, Sehkaniyan and Kurre Chine. Other zones targeted by GKPL as having reservoir potential are the Chia Gara/Najmah and Chia Zairi. Based on the preliminary seismic mapping, reservoir parameters from analogues in Kurdistan and northern Iraq, and estimates of reservoir parameters made by GKPL personnel GKPL estimates that should they drill a discovery well the five zones combined have potential unrisked in-place oil volumes of up to 2 billion reservoir barrels.

The Shaikan Block is situated near the city of Dihok, approximately 85 kilometres North-West of Erbil and covers an area of 283 square kilometres.

Akri-Bijeel Block: The Akri-Bijeel Block is operated by Kalegran, who is the holder of an 80% working interest ("The Operator") - in partnership with GKPL with a working interest of 20%. A seismic crew has been in the field since early April and acquisition of approximately 400 kilometres of 2D seismic is ongoing which will satisfy the seismic acquisition obligation under the exploration phase of the PSC. In addition, extensive field mapping has been undertaken to map the surface geology of the licence areas, and sample oil seeps discovered during the field work. The Akri-Bijeel Block is adjacent to the Shaikan Block and covers an area of 889 square kilometres.


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Related Categories: Formation Evaluation  General  Geological, Geophysical  Geophysical Contractors  Mud Logging  Reservoir Engineering & Recovery Methods  Seismic survey  Well Completion, Logging, Workover 

Related Articles: Formation Evaluation  General  Geological, Geophysical  Geophysical Contractors  Mud Logging  Reservoir Engineering & Recovery Methods  Seismic survey  Well Completion, Logging, Workover 


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