• 25% working interest

The Peshkabir discovery is located on the west side of the Tawke block PSC area, currently producing 50,000 bopd. The structure is a high amplitude anticline, which forms a mountain range on the surface with shallow layers outcropping to the surface on the flanks of the structure.

Peshkabir continues to exceed expectations, and production at the field has ramped up to 50,000 bopd, meeting the end-2018 target ahead of schedule and below budget.

One of two recently completed wells, Peshkabir-7, is producing over 10,000 bopd from nine Cretaceous zones through temporary test facilities and exported. The other, Peshkabir-6, drilled as a production well, but with the additional objective of appraising deeper formations, has established a deeper Cretaceous oil/water contact level than previously estimated. Further testing is underway, including test production of multiple producing zones.

The Peshkabir-8 well, spud in late August, is drilling ahead at 2,325 meters. Once completed, the rig will move to spud Peshkabir-9 in November. 

Four other wells at Peshkabir now produce at a combined rate of close to 40,000 bopd following a workover at Peshkabir-3 which boosted production from that well to 11,000 bopd from 8,000 bopd.

Peshkabir production is processed through temporary test facilities until commissioning of a central processing facility by end-2018, which will have a capacity of up to 50,000 bopd. The Company is also installing a 10-inch pipeline from Peshkabir to Fishkhabur with a capacity of 60,000 bopd. Field production is currently transported to Fishkhabur by tanker truck and a 6-inch pipeline.

Discussions are ongoing with the operator regarding the Enhanced Oil Recovery project, under which excess gas from Peshkabir would be used to boost oil production from the Tawke licence.