Asset Report

Sarsang Development Area

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01 May 2017

Sarsang Development Area

Report summary

The Sarsang block is located in northern Kurdistan in the same area as the Shaikan and Atrush oil fields. The block is operated by HKN Energy, a subsidiary of Dallas-based Hillwood International, with Maersk Oil and Marathon partners in the licence. Two discoveries have been made on the block, Swara Tika in June 2011and East Swara Tika in April 2015. A field development plan was approved for the Swara Tika oil field in November 2015. The initial plan is to raise production to around 20,000 b/d, followed by an increase to around 50,000 b/d. The East Swara Tika development plan had not been approved as of October 2016.

Table of contents

  • Key facts
    • Summary
    • Key issues
      • Issues common to oil developments in the Kurdistan Region of Iraq
      • Issues specific to Sarsang Development Area
  • Location maps
  • Participation
  • Geology
  • Well data
  • Exploration
  • Reserves and resources
  • Production
    • Key Development Metrics
    • Wells
    • Processing facilities
    • Background information
  • Infrastructure
    • Capital costs
    • Operating costs
  • Sales contracts
    • Signature Bonus
    • Royalty
    • Cost Recovery
    • Carried Costs
    • Profit Oil / Gas
    • R-Factor formula
    • Bonus payments
    • Capacity building payment
    • Capacity building bonus
    • Discount rate and date
    • Inflation rate
    • Oil price
    • GEM Filename
    • Indicative technical valuations

Tables and charts

This report includes 25 images and tables including:

  • Key facts: Table 1
  • Index Map
  • Detail Map
  • Participation: Table 1
  • Well data: Table 1
  • Reserves and resources: Table 1
  • Reserves and resources: Table 2
  • Production: Table 1
  • Production: Table 2
  • Production Profile
  • Costs: Table 1
  • Cash flow
  • Economic analysis: Table 2
  • Economic analysis: Table 3
  • Split of Revenues
  • Cumulative Net Cash Flow - Undiscounted
  • Cumulative Net Cash Flow - Discounted at 10% from 01/01/2019
  • Remaining Revenue Distribution (Discounted at 10% from 01/01/2019)
  • Remaining PV Price Sensitivities
  • Costs: Table 2
  • Costs: Table 3
  • Costs: Table 4
  • Fiscal and regulatory: Table 1
  • Fiscal and regulatory: Table 2
  • Economic analysis: Table 4

What's included

This report contains:

  • Document

    Sarsang Development Area

    PDF 8.64 MB

  • Document

    Sarsang Development Area

    XLS 433.50 KB

  • Document

    Sarsang Development Area

    ZIP 8.59 MB