Page 10 - MEOG Week 12 2021
P. 10
MEOG POLICY MEOG
EU freezes TPAO blacklist plans
after Ankara changes tack
TURKEY THE European Union has reportedly frozen and travel bans over Turkey’s “unauthorised
plans to blacklist more senior executives at drilling activities” for natural gas in disputed
Turkey’s state-owned Turkish Petroleum Corp. waters in the eastern Mediterranean, although
(TPAO). they did not specify individuals. The EU also
Reuters on March 18 reported four unnamed agreed to weigh tougher economic sanctions at
diplomats as describing the situation. It said it a summit on March 25-26, after a year that saw
was the clearest sign yet that a diplomatic offen- Turkish President Tayyip Erdogan expressing
sive by Ankara this year was bearing fruit. The publicly his hope that protests in France would
early months of this year has seen the Erdogan topple President Emmanuel Macron.
administration attempting to build bridges with But a more constructive tone from Erdogan
a number of countries with which it spent last this year, German Chancellor Angela Merkel’s
year in wars of words. support for a more conciliatory approach and
Also on March 18, Human Rights Watch the first direct talks between old foes Turkey and
(HRW) issued an open letter to EU High Rep- Greece in five years have all helped to change the
resentative for Foreign Affairs and Security Pol- mood, according to Reuters.
icy Josep Borrell saying: “We are concerned that The new administration of US President Joe
over the past year, the human rights situation in Biden has also urged Brussels not to impose
Turkey appeared to be largely absent from both sanctions at a time when Turkey, a Nato ally and
European Council discussions on EU-Turkey EU candidate country, appears more willing to
relations and high-level EU meetings with the compromise, European and US diplomats said,
Turkish authorities. Instead, these discussions the news agency reported.
focused primarily on the situation in the eastern “Work has stopped on additional blacklist-
Mediterranean and cooperation with the Turk- ings of Turkish individuals, and we are not talk-
ish authorities in the field of migration.” ing of economic sanctions anymore,” one EU
EU leaders in December tabled asset freezes diplomat said.
PROJECTS & COMPANIES
Gulf Keystone resumes growth efforts
KURDISTAN LONDON-LISTED Gulf Keystone Petroleum from the same pad, and installing electric sub-
(GKP) this week announced that it was resum- mersible pumps in two existing wells”, according
ing efforts to increase oil production from the to GKP.
Shaikan oilfield in the Kurdistan Region of GKP’s remaining anticipated net capital
northern Iraq. expenditure required to reach 55,000 bpd is esti-
GKP, which holds an 80% working interest in mated at $40mn-$45mn.
the Shaikan production-sharing contract (PSC), The field has proven plus probable reserves of
and its partner Kalegran, a subsidiary of Hun- 505mn stock tank barrels as well as 2C resources
gary’s MOL (20%), said it had resumed work of 293mn stb, though the reservoir is highly
towards achieving gross production from the fractured, which has led to complications devel-
55,000 barrels per day (bpd) asset by Q1 2022. oping the field and slowed production rates
The target had previously been set for Q3 considerably.
last year, but this date was missed due to diffi- Despite the challenges of 2020, production
culties relating to the coronavirus (COVID-19) from Shaikan expanded by 25% during the first
pandemic. eight months of the year compared to 2019.
CEO Jon Harris said: “Workstreams have Before being replaced by Harris on January
already begun, and we are targeting to restart the 18, then CEO Jon Ferrier said: “Planned debot-
drilling of SH-13 in Q3 2021, subject to manag- tlenecking works have increased PF-1 produc-
ing the continuing impact of COVID-19 on the tion capacity to more than 30,000 bpd.” Output
movement of people, services and equipment.” averaged 36,600 bpd during full-year 2020, with
SH-13 was suspended last year. The remain- December setting a monthly production record
ing elements of the expansion programme com- of 43,300 bpd. In January, output increased to
prise the completion of this well as well as the 44,405 bpd, with full-year guidance for 2021
drilling of SH-I, “the final well in the programme 40,000-44,000 bpd.
P10 www. NEWSBASE .com Week 12 24•March•2021
