This limited test resulted in 40+ degree API oil rates up to 2,000 bopd and associated gas rates of up to two mmscf/d, yielding a gas/oil ratio of approximately 1,000 scf/bbl.
This high energy, light oil discovery is in addition to the 2-4 billion barrels of heavier (22 to 17 degree API gravity) oil previously announced at various levels throughout the shallower Jurassic intervals.
The discovery of these high energy, light oil zones within the upper levels of the Triassic significantly improve chances of finding additional light oil targets in the 700m to 1,000m still to be drilled.
This most recent discovery will be logged when drilling has reached final target depth, prior to setting the final, 7″, casing string. The company plans to install a workover rig following completion of drilling operations in order to commence extended testing of the multiple pay zones present in the Shaikan -1 exploration well.
Todd Kozel, chairman and chief executive officer of Gulf Keystone Petroleum, commented: “The discovery of a higher energy reservoir in the upper portions of the Triassic section of the Shaikan – 1, while very significant in its own right, should also prove very beneficial to future development and exploitation of the large reserves of heavier, low GOR oil in the Jurassic portion of the well.”
