Gross 2P reserves
bopd gross production in 2019
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.
The latest well to complete was the TT-34 well, which has produced from all zones tested, at a maximum combined flow rate of over 3,900 bopd with 28/64” choke. The well was placed on production in the middle of January with a flow rate of c.2,000 bopd. Production at Taq Taq averaged c.12,800 bopd in the first half of January.
The rig has moved to drill TT-35, which spud in early January.
Further activity at Taq Taq is focused on maximising cash generation, with the optimised cost structure and 2020 work programme, which could see up to six wells drilled, under review.