Shaikan-6 Appraisal Well
The Shaikan-6 appraisal well, 9 km to the east of the Shaikan-2 appraisal well, is currently drilling a 12.25" hole at the depth of 2,058 metres in the Jurassic. The well will drill to the estimated TD of 3,800 metres subject to technical conditions.
Shaikan-7 Exploration Well
The tendering process has commenced for a rig to drill the Shaikan-7 exploration well, which will target the lower Triassic and the Permian, the deepest prospective undrilled horizons of the Shaikan structure.
Shaikan Extended Well Test
As part of the ongoing Extended Well Test ("EWT") on the Shaikan block, the output from the Shaikan-1 & 3 EWT facility reached 137,060 gross barrels of oil between 1 January and 6 March 2012. Due to unprecedented cold weather and poor visibility, combined with work required to connect an additional 20,000 barrel storage tank, the average test production between 1 January and 25 February was 2,077 gross barrels of oil per day ("bopd"). Since 25 February test production has averaged 5,641 gross bopd.
Shaikan Field Export Pipeline Project
On 6 March 2012, Gulf Keystone initiated a tendering process for the export pipeline site construction and installation for the Shaikan field export pipeline project.
As part of the ongoing tendering process for the materials procurement for the Shaikan field export pipeline project, which was announced on 12 January 2012, bids are currently being received with the technical and commercial evaluation to follow.
Gulf Keystone is the Operator of the Shaikan block with a working interest of 75 per cent and is partnered with Kalegran Ltd. (a 100 per cent subsidiary of MOL Hungarian Oil and Gas Plc.) and Texas Keystone Inc., which have working interests of 20 per cent and 5 per cent respectively.
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