MOL Group entered the Kurdistan Region of Iraq in 2007, where MOL Kalegran (MOL’s 100% subsidiary) is partnered with 20% in Shaikan Production Sharing Agreement. MOL also acquired 10% in Pearl Petroleum Company (Khor Mor and Chemchemal fields) in 2009 from Crescent Petroleum and Dana Gas.
The Shaikan oil field is located 60 kilometres North of the regional capital Erbil. The field was discovered by Gulf Keystone Petroleum (GKP) and MOL’s subsidiary (Kalegran), and it is one of the largest fields in Kurdistan, with majority of the oil currently being produced from the Upper Jurassic fractured carbonates. Drilling activities continued in 2023 with the completion of SH-17 and SH-18. Following the shut-in of the Iraq-Turkey pipeline on 25 March 2023, production from Shaikan Field remains shut-in.
Current production at the Khor Mor field is ca 470 million cubic feet per day of natural gas as well as ∼ 15,000 barrels per day of condensate and ∼ 1,000 tonnes of liquified petroleum gas (LPG), which translates into over 100,000 barrels of oil equivalent per day of hydrocarbon production. The expansion project of Khor Mor gas plant, KM250, is progressing with site and plant construction. Well operations have continued with the successful drilling and completion of wells KM-16, KM-17 and the ongoing drilling of KM-18.
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