Gulf Keystone Petroleum, a leading independent operator and producer in Iraq’s Kurdistan Region has completed the planned workover on the SH-12 well.

 

Jón Ferrier, Gulf Keystone's Chief Executive Officer, said: "We continue to successfully manage the challenging macro backdrop and make operational progress. I am pleased to report the successful planned workover of the SH-12 well, which is currently producing at over 5,000 bpd, driving an approximately 15 per cent increase in production from the field.

 

He said: “As announced in our half-year results, the SH-12 workover was one of a series of opportunities identified which in aggregate were expected to increase gross production by 5,000 bpd. With the very successful SH-12 workover result and work to bring SH-9 online and the debottlenecking of PF-1 proceeding as planned, we now expect to exceed our original incremental production expectation.”

 

Ferrier confirmed that they expected average production from the Shaikan Field this year to be at the top end of their guidance range for 2020.

 

Initial production from SH-12 was from the Lower Jurassic Butmah reservoir providing valuable information for future development planning. The workover involved moving up hole, perforating and producing from the main SAM reservoir.

  

SH-12 returned to production on November 15, 2020, and the well is currently flowing at a stable rate of over 5,000 bpd. The additional production flows to the PF-2 production facility, where there is spare production capacity. The workover design allowed the original Electronic Submersible Pump (ESP) completion to remain in place during the operation and the ESP is now back-in service. The operation came in ahead of schedule and on budget.

 

Gulf Keystone Petroleum’s average 2020 gross production is expected to be at the upper end of the previously disclosed guidance range of 35,000-36,000 bpd, with the field currently producing at c.39,000 bpd. –-Tradearabia News Service