Gulf Keystone Completes 2D Seismic Program in Kurdistinian Iraq
Gulf Keystone Petroleum Limited has announced that its 2D seismic program in the Shaikan Block, which was completed in April 2008, acquired 171 kilometers using a combination of vibrator and dynamite sources and satisfies the seismic acquisition obligation under the exploration phase of the PSC.
A preliminary interpretation by the Company’s internal technical team of the processed data has confirmed the existence in the subsurface, at the depth of prospective reservoir zones, of the large anticline which is visible at the surface outcrop and is at the surface some 26 kilometers in length and 5 kilometers in width.
The Company is planning to drill a well on the crest of the anticline for late 2008 to be drilled to approximately 3,500m. The well will target reservoir zones where oil has been discovered elsewhere in Kurdistan and northern Iraq, namely the Qamchuqa, Sehkaniyan and Kurre Chine. Other zones targeted by GKPL as having reservoir potential are the Chia Gara/Najmah and Chia Zairi.
Based on the preliminary seismic mapping, reservoir parameters from analogues in Kurdistan and northern Iraq, and estimates of reservoir parameters made by GKPL personnel GKPL estimates that should they drill a discovery well the five zones combined have potential unrisked in-place oil volumes of up to 2 billion reservoir barrels.
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