• 25% working interest

The Peshkabir discovery is located on the west side of the Tawke block PSC area. The structure is a high amplitude anticline, which forms a mountain range on the surface with shallow layers outcropping to the surface on the flanks of the structure.

Ongoing drilling success at Peshkabir resulted in production increasing from 12,000 bopd in January to over 55,000 bopd at the end of 2018, ahead of schedule and under budget. Wells were drilled across the structure, and each successfully added to production.

Gross production from the Tawke licence averaged 108,580 bopd during the first half of 2020, and 102,000 bopd during the second quarter of the year, as the operator halted development activity to preserve cash at a time of historically low and uncertain oil prices.

In June 2020, following the stabilisation of oil prices and export payments, activity was fast tracked at the Tawke licence and production quickly increased by 15,000 bopd month-on-month to raise average July 2020 production to 115,000 bopd.

The Peshkabir-to-Tawke gas reinjection project (the first enhanced oil recovery project in the KRI) was commissioned in June, and aims to unlock additional oil reserves at Tawke while significantly reducing gas flaring and CO2 emissions at Peshkabir.