MOL Says Shaikan Block Crude Output Reached 40,000 BPD


BUDAPEST, Jan 5 (Reuters) – Hungary's oil and gas group MOL said on Monday that daily crude production from the Shaikan block in the Kurdish region of Iraq reached 40,000 gross barrels per day on December 27 and there was "huge" further upside.

MOL said in a statement that on Dec. 29 nearly 58,000 gross barrels of Shaikan crude was sent by truck to the Turkish coast for further export sale.

Alexander Dodds, MOL Group Executive Vice President for Upstream said reaching the 40,000 barrels per day level was a significant milestone in the project, and the further upside was "huge."

MOL has a 20 percent working interest in the Shaikan block, where Gulf Keystone is the operator.

(Reporting by Krisztina Than)

Copyright 2016 Thomson Reuters. Click for Restrictions.


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