Bond Offering Memorandum 23 July 2014 - page 313

Kuwait Energy
EL-12-211107
50
FIGURE 3.6
STRATIGRAPHIC COLUMN, NORTHERN IRAQ
No GWC or GOC has been directly observed. The contact depths are constrained only
by the fluids produced in the well tests. Attempts have been made to estimate the GWC
depth from reservoir pressure measurements made during well tests and from plots of
water saturation vs. depth. However, in view of the considerable uncertainty in the
pressure and water saturation data, GCA does not believe that much weight should be
put on those estimates.
Although KE’s base case dynamic model, in which well deliverability was calibrated
against the production tests, suggested that a total of 21 wells would be sufficient to
sustain the required 13-year, 320 MMscfd plateau production, the Operator now believes
that a total of 27 wells will be required. These will comprise 3 that are already drilled
(Mansuriya-1, -2 and -3) and just require working over, 1 appraisal well that would double
as a development well (the other appraisal well will be drilled in a down-dip location,
unsuitable for production) and 23 development wells.
Low, best and high production profiles have been generated using the low case, best
case and high case dynamic models, where initial CGR was taken as 0, 80 and
90 stb/MMscf respectively and variations in well productivity and skin were also
incorporated. In the low case, the gas volumes are insufficient to maintain 320 MMscfd
for more than 6 years.
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