Gulf Keystone, one of many main impartial operators and producers within the Kurdistan Area of Iraq, has introduced the resumption of the corporate’s development plans to ramp-up gross manufacturing in the direction of 55,000 bopd
Jon Harris, CEO of Gulf Keystone, mentioned, “Workstreams have already begun, and we’re focusing on to restart the drilling of SH-13 in Q3 2021, topic to managing the persevering with influence of COVID-19 on the motion of individuals, providers and gear.”
With help from its companion Kalegran BV (a subsidiary of MOL Hungarian Oil & Gasoline plc), Gulf Keystone has restarted 55,000 bopd growth exercise.
Contemplating the requirement to handle the continuing influence of COVID-19 and to remobilise individuals, providers and gear, the corporate at present expects drilling operations to start within the Q3 2021. Remaining growth exercise consists of completion of SH-13, which was suspended final yr, drilling SH-I, the ultimate effectively within the programme from the identical pad, and putting in electrical submersible pumps in two current wells.
Steerage for 2021 common gross manufacturing stays unchanged at 40,000 to 44,000 bopd, with the rise in gross manufacturing in the direction of 55,000 bopd anticipated to happen within the Q1 2022. The remaining Capex required to ship the 55,000 bopd programme is estimated to be US$40-45mn web, leading to complete 2021 Capex of US$55-65mn web.
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