Taq Taq – A potential billion barrel field
The Taq Taq licence area, with gross 2P reserves standing at 607 mmbbls, is situated in the Zagros basin where large, elongated anticlines dominate. The Taq Taq licence area is located 60 km northeast of the Kirkuk oil field and the adjacent city of Kirkuk, 85 km southeast of the city of Erbil and 120 km northwest of the city of Sulaimaniyah. The gross area of the Taq Taq licence area is approximately 951 square km.
There are currently 12 producing wells at Taq Taq, and the current production capacity of the field is 120,000 barrels per day, with plans on track to increase this to 200,000 barrels per day in 2014. The first horizontal well on Taq Taq is scheduled to spud towards the end of 2013.
There are four oil bearing zones that have been discovered in the Taq Taq field, one in the Oligocene Pilaspi formation and three in the Upper Cretaceous Shiranish, Kometan and Qamchuqa formations. The oil in Pilaspi formation is relatively heavy with an API gravity of 24 degrees, and the Cretaceous reservoirs contain a lighter, very low gas-to-oil ratio with an API gravity of 48 degrees.
Exploration drilling is ongoing and Taq Taq Deep, targeting 250mmboe gross unrisked resources in the deeper Jurassic and Triassic reservoirs, is currently drilling.