Gulf Keystone Petroleum, the energy company focused on Iraq's semiautonomous Kurdistan region, is resuming oil output boost from its Shaikan field in the area and expects to reach gross production of 55,000 b/d by the first quarter of 2022.
Guidance for 2021 average gross production at Shaikan was unchanged at 40,000 b/d to 44,000 b/d, the company said in a March 22 statement.
"Workstreams have already begun, and we are targeting to restart the drilling of SH-13 in Q3 2021, subject to managing the continuing impact of COVID-19 on the movement of people, services and equipment," John Harris, Gulf Keystone CEO, said in the statement.
Gulf Keystone currently expects drilling operations to begin in the third quarter of 2021, with remaining expansion activity that includes completion of SH-13, which was suspended last year, and the drilling of SH-I, the final well in the program, it said.
Last year, Gulf Keystone was not able to meet its production increase target of 55,000 b/d slated for the third quarter of 2020 due to the pandemic and near lockdown in Kurdistan.
In January, the company achieved highest monthly average daily gross production of 44,405 b/d from Shaikan, it said Feb. 15.
The Kurdistan region produced 439,000 b/d in February, up by 4.8% from 419,000 b/d in January, according to figures released by federal Iraq's State Oil Marketing Organization on March 10.
