• 4 minutes US-backed coup in Venezuela not so smooth
  • 7 minutes Why Trump will win the wall fight
  • 11 minutes Oil imports by countries
  • 13 minutes Maduro Asks OPEC For Help Against U.S. Sanctions
  • 14 hours Climate Change: A Summer of Storms and Smog Is Coming
  • 13 hours Tension On The Edge: Pakistan Urges U.N. To Intervene Over Kashmir Tension With India
  • 14 hours The Quick Read On MBS's Tour of Pakistan, India And China
  • 13 hours Teens For Climate: Swedish Student Leader Wins EU Pledge To Spend Billions On Climate
  • 15 hours Iran Starts Gulf War Games, To Test Submarine-Launched Missiles
  • 15 hours Venezuela: Nicolas Maduro closes border with Brazil
  • 14 hours BMW to add 2,000 more jobs at Dingolfing plant
  • 1 day Amazon’s Exit Could Scare Off Tech Companies From New York
  • 1 day Itt looks like natural gas may be at its lowest price ever.
  • 16 hours Saudi A to Splash $100 Bln on India
  • 9 hours Washington Eyes Crackdown On OPEC
  • 11 hours Indian Oil Signs First Annual Deal For U.S. OilIndian Oil Signs First Annual Deal For U.S. Oil
  • 1 day NEW FERUKA REFINERY

Global Energy Advisory – 2nd April 2015

Kurdistan Oil Update

• Gazprom Neft Middle East is preparing to conduct a 2D seismic survey on the southeastern section of the Halabja block. The seismic equipment is en route from another section of the block, where seismic has already been conducted. The first exploration well here will be drilled within a year, with vague references to 2015/2016. This is one of four Gazprom Neft projects in Iraq; and one of three in the Kurdistan Region of Iraq.

• Gulf Keystone Petroleum Ltd, which operates the Shaikan field in Kurdistan, has resumed production and truck loading operations at its two production facilities here. The back story here is that production had been halted due to the failure of the Kurdistan Regional Government (KRG) to pay arrears for crude oil sales. According to Gulf Keystone, the KRG has received a $26 million pre-payment (of which $20.8 million is net to Gulf Keystone) for future Shaikan crude oil sales. Production capacity here is 40,000 bpd and with the pre-payment on future crude oil sales, Gulf Keystone will ramp up production to full capacity. Gulf Keystone has 9 producing wells in Shaikan and two newer production wells should add to existing capacity. The bottom line is that the KRG is footing a rather significant security bill to keep the Islamic State (IS) away from Kirkuk and other Northern Iraq locations where Baghdad has fallen short.

• At the same time, we note that Gulf Keystone is a rather controversial company…

To read the full article

Please sign up and become a premium OilPrice.com member to gain access to read the full article.

RegisterLogin



Oilprice - The No. 1 Source for Oil & Energy News