GPK, a 75%-owned subsidiary of UK player New Age, aims to drill three wells at the field in the Khalakan block, with initial output of 10,000 barrels per day of oil targeted from an early production facility to be built under the first development phase.
The company is looking to tap 75 million barrels in proven and probable reserves at Shewashan, discovered only last year, after the field development plan was approved by the Kurdistan Regional Government (KRG) in February.
“Despite
