The operator of the Shaikan block, Gulf Keystone Petroleum, provided the Competent Personʼs Report update, prepared by ERC Equipoise.
“The operator now has greater certainty in its ability to develop the increased 2P Reserves with fewer wells and reduced capex per barrel,” MOL said.
According to the updated report, proved and probable reserves increased by 114% to 639 mln stock tank barrels gross, it added.
MOL has a 20% stake in the Shaikan block.
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