Gulf Keystone Petroleum has announced that it has begun drilling of the Sheikh Adi-2 exploration well on the Sheikh Adi block in the Kurdistan region of Iraq.
Sheikh Adi-2, the second exploration well on the block, is being drilled 1.45km to the north of the Sheikh Adi-1 exploration well, which was drilled in August 2011.
The well will target prospective intervals in the Jurassic formation and has a planned total depth of approximately 2,450m.
It is being drilled with the Discoverer-4 rig, which had previously drilled the Shaikan-4 appraisal well.
Gulf Keystone Petroleum chief operating officer John Gerstenlauer said, "Our present goal is to prove up the impressive preliminary resource estimates for the Sheikh Adi block of one to three billion barrels of gross oil-in-place, which were assigned by Dynamic Global Advisors as a result of the Sheikh Adi-1 drilling."
The well will test prospective intervals in the Jurassic formation, based on an analysis of 3D data, which revealed that the acreage is more tightly folded and is more likely to have a well-developed system of natural fractures than the Shaikan-4 appraisal well.
Gulf Keystone is the operator of the Sheikh Adi block with a 80% stake, with the remaining 20% interest being held by the Kurdistan Regional Government.