Gulf Keystone spuds in KRG

U.K.-based independent Gulf Keystone has spudded its first Iraqi well in the autonomous Iraqi Kurdistan region, according to a company statement.

The Shaikan-1 well on the Shaikan Block is estimated by the company to take between four and five months to complete and it is targeting multiple horizons between 600 metres and 3,000 metres depth. Gulf Keystone—which otherwise has retained a clear Algeria-focus—is expecting the targeted horizons to have an aggregate anticipated in place reservoir volume of about two billion barrels of oil, should they be found to hold hydrocarbons.