MOL Group entered the Kurdistan Region of Iraq in 2007, where currently Kalegran (MOL’s 100% subsidiary) is a minority partner with 20% in Shaikan PSC. MOL also acquired 10% in Pearl Petroleum Company (Khormor and Chemchemal fields) in 2009 from Crescent Petroleum and Dana Gas in the Kurdistan Region of Iraq.
Shaikan oil field is located in the Kurdistan Region of Iraq, 60 kilometres north of the regional capital Erbil. The field was discovered by Gulf Keystone Petroleum (GKP) and MOL’s subsidiary (Kalegran), it is one of the largest fields in Kurdistan with majority of the oil is currently being produced from the Upper Jurassic fractured carbonates. The field is currently producing about 35,000 boepd, with production being fed to two production facilities. Export to the main oil trunk line is, depending on the production facility, either through a short pipeline or by means of trucks. Current activities are underway to increase both sales and production capacity to 55,000 boepd in 2020. Further phased incremental production steps are envisaged, subject to future investment decisions.
MOL farmed into Pearl joint venture in 2009. Pearl encompasses the producing gas/condensate Khor Mor field, the Chemchemal gas field and exploration territory in Blocks 19 & 20.
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