Production
Shaikan Extended Well Test (“EWT”) facilities were completed in September 2010 with test production from Shaikan-1 commencing during October 2010 with a net entitlement to domestic oil sales of 54,201 barrels to March 2011. Both Shaikan-1 and Shaikan-3 are tied to the EWT facilities.
In May 2011, Gulf Keystone was requested by the Kurdistan Regional Government to prepare to export up to 5,000 barrels of oil per day (bopd) from the EWT facilities, following which the Company entered the commissioning phase of oil export operations. The commissioning phase, involving final preparations and customary checks and tests on all elements of the process, including loading and transportation logistics, as well as metering and receiving facilities, is underway in order to enable the Company to steadily ramp up export volumes to 5,000 barrels of oil per day (bopd) with an eight month target of over 10,000 bopd.
