Project Profile
Area: 180 km²
Reserves: Excess of one billion barrels
Location: Sheikh Adi block, Kurdistan
Licence relinquishment: March 2016
The Sheikh Adi block covers an area of 180 km² and lies to the west and on trend with the Shaikan structure. The Production Sharing Contract (“PSC”) for the Sheikh Adi block was awarded in July 2009 to Gulf Keystone Petroleum International (Operator with the working interest of 80%) by the Kurdistan Regional Government which has a 20% carried interest in the Sheikh Adi PSC.
Gulf Keystone’s estimated oil-in-place resource potential for the Sheikh Adi structure is in excess of one billion barrels.
In line with the initial three year exploration phase, which commenced in July 2009, the Sheikh Adi-1 first exploration well was spudded on 4 August 2010. Sheikh Adi-1 is designed to drill through the Cretaceous, Jurassic and Triassic formations to a planned total depth of approximately 3,850 meters.
In 2010, acquisition of 215 km² of 3D seismic data for the Sheikh Adi block commenced and was completed in early 2011 with the data now being processed.
Operators:
Gulf Keystone Petroleum International: Operator with 80% working interest
Kurdistan Regional Government (KRG): 20% carried interest
Contractor:
Dynamic Global Advisors: Resource estimate