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Kurdistan oil and gas company declares Akri Bijeel Block commercial

Oilfield Technology,

Gulf Keystone Petroleum International (GKP), an independent oil and gas exploration and production company with operations in the Kurdistan region of Iraq, has announced that the Akri Bijeel Block (GKP 20%) has been declared commercial.

The Akri-Bijeel block is situated to the east of the Shaikan block and covers an area of 889 km2. The Production Sharing Contract (PSC) for the Akri-Bijeel block was awarded in November 2007 to Kalegran Ltd (operator and a 100% subsidiary of MOL Hungarian Oil and Gas Plc, with the working interest of 80%) and Gulf Keystone Petroleum International (20%).

Light oil and sour gas saturation confirmed

A longer-term production test in the Triassic Kurra Chine B formation in the Bakrman-1 exploration well confirmed light oil and sour gas saturation with maximal oil production level around 3192 bpd and 10.19 million ft3/d of gas on 64/64 in. choke size.

At current stage GKP plans to drill two appraisal wells and deploy an early production facility already in 2015 in order to commence early oil production from Bakrman.

The Bijell extended well test surface facility construction and commissioning has been completed. Total gross capacity of the EWT facility is 10 000 boepd in phase-1, while storage tanks have 30 000 boe capacity.

Bijell-1B sidetrack drilling, testing and completion are expected to be finished in Q1, 2014. The Bijell-7 appraisal well found poor reservoir and was not capable of flowing naturally even after stimulation.

Early oil production could be resumed from Bijell-1B in Q1, 2014, subsequently adding B-2, B-4 and B-6 on stream by the Q3 2014. Expected EPF plateau could be achieved by the end 2014.

About GKP

Gulf Keystone is focused on exploration, appraisal and production in the Kurdistan region of Iraq where a world-class discovery was first made on the company’s Shaikan block in 2009. The company is currently entering a new stage of its development as it matures from a proven oil explorer to a significant producer in the Kurdistan region of Iraq.

Adapted from press release by Cecilia Rehn

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