Gross 2P reserves
bopd gross production in 2018
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 Sulaimaniah. The gross area of the Taq Taq licence area is approximately 951 square km.
The Taq Taq field has been producing since 2006. As of 31 December 2018 the field had produced over 215 MMbbls, generating well over $12 billion in sales. The overriding strategy for the Taq Taq field is to generate free cash flow flow and maximise gross ultimate recovery.
Taq Taq performed well in 2018, with production stabilising in the second half of the year through successful field management operations and workovers. Drilling on the field has restarted in earnest, with successful progress being made on our five well programme targeting the flanks of the field. Two wells in the programme have now been completed.
The TT-32 well on the northern flank followed the success of TT-29w, and it is currently contributing c.3,000 bopd to overall field production. The rig has now moved to drill the TT-20 well, with a further three wells scheduled to be drilled at Taq Taq in 2019. We will continue with the current well programme, with the aim of adding to overall field production.