Maersk Oil entered the Kurdistan Region of Iraq in 2011 as a shareholder in HKN Energy, which has operating interest in the Sarsang licence. In 2014 the Swara Tika discovery in the Sarsang licence was declared commercial and Maersk Oil converted its shareholding position in HKN Energy to an equity interest in the Sarsang licence.
Exploratory drilling in the Sarsang licence was completed in the first half of 2015. In the Sarsang licence, HKN Energy submitted a revised field development plan for Swara Tika in the first quarter of 2015.
Development work in 2016 successfully raised production to around 15,000 barrels per day. Maersk Oil played a significant role in optimising the well design and execution.
HKN Energy is the Operator (42%) of the Sarsang PSC, with partners Maersk Oil (18%), Marathon Oil (20%) and the Kurdistan Regional Government (KRG, 20%).
The Swara Tika field produces from three wells, ST-1 and ST-2, at a total rate of some 11,000 b/d, and the ST-4Z well has brought total field production rate up to some 15,000 b/d.
2016: Production boosted
2015: Exploration drilling on the East Swara Tika prospect in the Sarsang licence was concluded, and a Declaration of Commerciality submitted.
2014: Maersk Oil opened a representative office in Erbil.
2014: Maersk Oil converted its 30% shareholding in HKN Energy, a privately owned U.S. company, to an 18% non-operated interest in Sarsang licence. HKN Energy continues as operator for the Sarsang licence, holding its 37% interest, with partners Marathon Oil (20%) and the Kurdistan Regional Government (KRG) with 25%.
2014: The Swara Tika discovery is declared commercial in the Sarsang licence.
2013: Testing completed of a second well, Swara Tika 2, for further appraisal of the discovery.