Akri-Bijeel Block: Aqra-1 Appraisal Well
The first appraisal well to assess the Bijell discovery on the Akri-Bijeel block is being drilled 8 km to the north-west of the Bijell‑1 discovery well. Currently, Aqra-1 is at a depth of 2,273 metres in the Cretaceous where logs are being acquired prior to running 13 3/8" casing. The well will drill to an estimated TD of 4,700 metres in the Triassic subject to technical conditions.
Gulf Keystone has a 20 per cent working interest in the Akri-Bijeel block, operated by Kalegran Ltd., a 100 per cent subsidiary of MOL Hungarian Oil and Gas Plc., which holds 80 per cent working interest in the block. The operator's P50 resource estimate for the Bijell discovery is 2.4 billion barrels of oil-in-place, while the ongoing 2012/13 exploration and appraisal programme is targeting existing and identified hydrocarbon prospects in the Akri-Bijeel block.
Ber Bahr-1 Exploration Well
A well testing programme has commenced for Ber Bahr-1 after the first exploration well on the Ber Bahr block reached its TD at 3,930 metres, with results expected in summer 2012.
Gulf Keystone has a 40 per cent working interest in the Ber Bahr block, operated by Genel Energy, which holds a 40 per cent working interest in the block. The Kurdistan Regional Government has a 20 per cent carried interest in the Ber Bahr Production Sharing Contract. The Operator's resource estimate for the Ber Bahr block is 1.5 billion barrels of oil equivalent-initially-in-place.
John Gerstenlauer, Gulf Keystone's Chief Operating Officer commented:
"Our operations are progressing across the four blocks in the Kurdistan Region of Iraq. In addition to the outstanding 24,000 bopd results achieved with the Shaikan-4 appraisal well, Shaikan-6 has cored oil 150 metres below what we previously assumed to be Jurassic oil/water contact level for Shaikan. Both Shaikan-5 and Shaikan-6 continue to appraise this massive structure down the flanks and we plan to test and evaluate its deeper oil potential. Stable output from the Shaikan extended well test has now surpassed our initial target of 5,000 bopd and is set to increase with work underway to upgrade the existing EWT facility and design and construct a new facility for Shaikan-2. A long-anticipated second exploration well on the Sheikh Adi block will spud in June, when results of the Ber Bahr-1 testing programme are also expected."
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