We believe Kurdistan is one of the last remaining underexplored and under-developed highly prospective petroleum regions in the world.
Located in central Kurdistan within the prolific, under-explored and under-developed Zagros Foldbelt, Shewashan is on a geological trend with multiple recent world-class hydrocarbon discoveries - Miran, Taq Taq and Tawke. It is also close to an export pipeline with 1.4 million barrels per day capacity.
A well test of the Shewashan discovery drilled in 2014 flowed at more than 5,000 barrels of oil per day and the field was declared commercial. A phased development plan has been approved with a 10,000 bopd Early Production Facility (EPF) planned for 2017.
||NewAge (60.04%)via equity in GPK (80%)
||Kurdistan Regional Government (20%)
||Shewashan commerciality declared
Early Production Development Plan
First oil achieved December 2014
Final Investment Decision 2015
Phase 1 Development drilling and EPF
Schematic showing potential Shewashan early oil development