SHAMARAN ATRUSH-4 GROSS COLUMN ABOUT 580 METERS-CEO (DirectlSHAMARAN ATRUSH-4 GROSS COLUMN ABOUT 580 METERS-CEO (Directly) 2014-04-22 16: 03 STOCKHOLM (Bloomberg) Shamarans fourth well in the Kurdish Atrush field, Atrush, which flowed around 9,000 barrels per day had an oil column of approximately 580 metres. It says oil exploration company's Managing Director Pradeep Kabra, in an interview with the news agency on Tuesday after last week's announcement. "The oil column is around 580 metres, which means that it is 72 metres higher than the Atrush-1", says CEO. It was in line with your internal expectations? "Yes, it was in line with our expectations and we had expected a higher column than Atrush-1, which it was thus", Pradeep Kabra. Flow of approximately 9,000 barrels per day describes Pradeep Kabra flow reasonably well. The flow varies so widely between wells, where the Atrush-1 well tested more than 42,000 barrels per day and Atrush-3 gave more than 2,000 barrel refers to the size of the CEO. "It is a very large field and geology can be different in different places," he commented the differences. Additional details concerning the Atrush-4 drilling will be published in conjunction with the company's updated presentation adopted are published on the website next week, according to the President. Pradeep Kabra repeats still operator Taqas goal that first oil from Atrush field is expected in the first quarter of next year, the first production phase is expected to reach 30,000 barrels per day and that Atrush-4 will be a part of. The long-term objectives of a production of around 120,000 barrels per day in 2017 also remain, according to CEO. As regards the forthcoming drilling later this year is expected to Atrush-5, or CK-5, start drill in mid-May while CK-6 is predicted to begin drilling in late June with the help of a second rig. Subsequent CK-7 is considered in turn start drilled around the turn of the year, indicates the CEO borrningsschemat. Atrush-3 will be flödestestas again in the fall, around October/november, says Pradeep Kabra. He establishes that before, to not associate with any plans Shamaran on reducing its stake in Atrush-field at the same time as the oil company is looking at opportunities for acquisitions in the region of the Middle East and North Africa. The political situation and developments in Kurdistan and the relationship with Iraq and Turkey describes the CEO: "It continues to move forward and there are a few things to fix but I hope we will reach a solution in the short term". Shamarans stake in Atrush field is around 20 percent while the operator Taqa has a share of about 40 percent. Henrik Svensson + 46 8 5191 7924 The News Agency Directly
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