Anglo-Turkish independent Genel and partner Chevron aim to bring online the Sarta field in Iraqi Kurdistan in 2020. The partners (Chevron 50% op, Genel 30%, KRG 20%) took FID this week on ‘Phase 1A’ development at Sarta which is set to be the first new field brought online since Atrush (Taqa 39.9%, Shamaran 20.1%, Marathon 15%, KRG 25%) in July 2017 (MEES, 14 July 2017).
Momentum is again building in Kurdistan’s oil sector, and Chevron is not the only US Major eying production startup. ExxonMobil is developing the Baeshiqa license (DNO 32%op, ExxonMobil 32%, Turkish Energy Company 16%, KRG 20%) in the contentious hinterland with federal Iraq. A first well is now being tested and the partners are looking at fast-tracking development. Sarta and Baeshiqa may be in a race to be the first to startup. (CONTINUED - 365 WORDS)