MOL partner upgrades oil volumes at shared discovery

Tourism

Gulf Keystone Petroleum (GKP) on Tuesday announced an upgrade of oil volumes at a discovery it shares with Hungarian peer MOL in the Kurdistan Region of Iraq.

GKP said the revised gross oil-in-place volumes for the Shaikan discovery, as calculated by Dynamic Global Advisors (DGA), an independent Houston-based exploration consultant, are a P90 value of 8bn barrels to a P10 value of 13.4bn barrels of oil-in-place with a mean value of 10.5bn barrels.

This is the second very significant upgrade of the Shaikan resources estimates in 2011 and it revises the previously announced range of 4.9bn to 10.8bn barrels of gross oil-in-place with a mean value of 7.5bn barrels, it added.

GKP holds a 75% working interest in the Shaikan block. MOL indirectly holds a 20% working interest.

Hungary Needs Locally-produced Sustainable Energy Green Energy

Hungary Needs Locally-produced Sustainable Energy

Hungary Condemns Iranian Attack on Israel Int’l Relations

Hungary Condemns Iranian Attack on Israel

Construction Output Volume Rises in February Construction

Construction Output Volume Rises in February

Chresten Bruun Wins Expat CEO of the Year Award Awards

Chresten Bruun Wins Expat CEO of the Year Award

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.