Gulf Keystone discovers oil at Iraqi prospect

Gulf Keystone Petroleum has achieved 24,000 barrels of oil per day (bopd) of aggregate flow rates from the Shaikan-4 deep appraisal well, in a testing programme completed at the prospect in the Kurdistan Region of Iraq.

The Shaikan-4 well was drilled 6km to the west and reached a total depth of 3,387m in the testing programme, which commenced in December 2011.

John Gerstenlauer, Gulf Keystone chief operating officer, said Shaikan-4 is the company’s best well drilled to date in the Kurdistan Region of Iraq, in terms of the total net pay.

"In addition, we have more than doubled our initial flow rates in the tested Sargelu interval to over 14,000 bopd, following its acidisation and retest," added Gerstenlauer.

"The total maximum aggregate flow rates of 24,000 bopd are very significant for Gulf Keystone as we look forward to completing our appraisal of this massive structure with the Shaikan-5 and Shaikan-6 wells and gradually increasing our test production volumes from Shaikan to above 10,000 bopd in 2012."

The Shaikan-4 well is currently being completed as a producer and will be tied to the Shaikan-1 and Shaikan-3 extended well test facility.

Discoverer-4 rig will now be moved to the adjacent Sheikh Adi-2 exploration well, north of the Sheikh Adi-1 exploration well, which is expected to spud in June 2012.