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Shaikan 6 spuds in Kurdistan
Posted 20.12.2011 08:33:09 av John Bradbury
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Another appraisal well has been kicked off on the giant Shaikan field discovery in Kurdistan by London-listed Gulf Keystone Petroleum.

Estimated to contain between 8 and 13.4 billion barrels of oil, drilling has commenced on a Shaikan 6 appraisal well, Gulf Keystone reported today, with the aim of targeting Jurassic and Triassic horizons in the field.

After spudding on 16 December at a location nine kilometres (5.6 miles) east of the Shaikan 2 well, the Shaikan 6 well is aiming for a total depth of 3,800 metres (12,464 feet) and it will be the last appraisal on the field, the company has indicated.

Independent audits have suggested Shaikan contains about 10.5 bn bbls on a
P10 to P90 basis and in-place gross in place oil has been put at between 8 and 13.4 bn bbls.

Not for release, publication or distribution in or into the United States or jurisdictions other than the United Kingdom and Bermuda where to do so would constitute a contravention of the relevant laws of such jurisdiction.

A Shaikan 7 well is due to be drilled in 2012 targeting possible untapped resources in Lower Triassic and Permian zones, the company stated today.

“Shaikan-6 is the tenth well to be drilled across the company's four adjacent blocks and the seventh well to be drilled on the blocks which Gulf Keystone operates in the Kurdistan Region of Iraq,” explained company chief operating officer John Gerstenlauer.  “This number of completed and current exploration and appraisal wells comfortably places Gulf Keystone among top three operators in the region,” he continued. “As part of our high impact drilling campaign, planned and funded through 2012, the Shaikan-5 and Shaikan-6 appraisal wells will provide us with better understanding of the flanks of the massive Shaikan structure and its yet untapped resources.”

Gulf Keystone operates Shaikan with 75% equity, partnered by Kalegran Ltd, a subsidiary of Hungary's MOL.

On 19 December Gulf Keystone issued a statement seeking to deter further speculation about the company's future amid press speculation about an offer.
“Whilst there is clearly increasing interest in the region in which Gulf Keystone operates, the board is not in discussions with regard to a sale of the company,” Gulf Keystone indicated.
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