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5
Development & Exploration
The main development and exploration activity in the year has been
the drilling at the Block 9 (Iraq) concession
where the Company has completed the drilling on two new wells, Faihaa-3 and Faihaa-4, and started the drilling
on a third well, Faihaa-5
. The table below provides the status of the development and exploration wells for the
reporting period:
Country
Basin/Area
Well Name
No. of
Wells
Cost
Interest
Status at end of 2017
2016 Carry-over Wells
Iraq
Block 9
Faihaa-3
1
60%
Production commenced on 12
February 2017, current production
has stabilized at a rate of
approximately 2,650 bbls (Gross) on
a 40/64” choke size as of year-end.
Oman
Karim Small
Fields
WRDM-K29
1
15%
Producing.
2017
Iraq
Block 9
Faihaa-4
1
60%
Spud 21 April 2017 with drilling
completed on 9 September.
Production began in early February
2018.
Iraq
Block 9
Faihaa-5
1
60%
Spud 16 November 2017.
Production is expected in Q2 2018.
Egypt
Abu Sennan
Al Jahraa SE-2X
1
53%
Exploration well spud 25 April 2017.
The well has been on production
since 12 July 2017 producing at a
rate of 100 boepd.
Egypt
Abu Sennan
Al Jahraa-9
1
53%
Development well spud 10 June
2017 with the rig released on 20
August 2017 - however tests have
shown the produced liquids to be
100% water.
Egypt
Area A
South Kheir 1X
1
70%
Exploration well spud 11 December
2017.
Oman
Karim Small
Fields
KM-P14/P15/P16/P17/P18/P19,
SMPH-11, GZ-P10, HJ SW-P2/P3,
WRDM-K33, SL-P2/P3, JDRK-
15/17, SMPH-14/30, NSM-P6
18
15%
NSM-P6 on drilling.
Total for 2017
23