Gas Plus Khalakan (GPK) expects total production at the Shewashan field in the Kurdistan Region of Iraq to hit 10,000 barrels of oil per day early next year when the Shewashan-4 field comes on stream.
The company revealed Monday that the Shewashan-1 sidetrack well was successfully drilled and recompleted as a horizontal producing well in the Qamchuga formation recently. The well is currently producing approximately 500-700 bopd, although it may require further stimulation to reach expected predrill production estimates based upon the original shewashan-1 vertical well.
Shewashan-2 continues to produce with a current rate of around 4,000 bopd and the production from both wells is sold into the domestic refinery market via existing topside production facilities and tanker trucks. Shewashan-3 has now spudded and will target the productive Cretaceous formations as a vertical producer. The well is anticipated to be completed in the fourth quarter of 2016 with an estimated budget of $16 million.
The vertical Shewashan-4 well is due to be drilled later this year to accelerate Phase 1 production in the Cretaceous and test the deeper unexplored Jurassic reservoirs.
“We are pleased with the progress made with the Shewashan Phase 1 Development and looking forward to the results of the next two development wells which may demonstrate more updip potential in the Cretaceous oil field and further potential in the deeper Jurassic section,” said Steve Lowden, CEO of New Age, in a company statement.
“Importantly, we have also sold all the oil produced and expect to be paid for production to date. The KRG are working closely with our team on all aspects of the development and we appreciate their contributions and fresh insights,” he added.
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