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CEO's Message

“During the third quarter OP Hawler Kurdistan Limited continued to operate safely, without any recordable incidents, notwithstanding restrictions imposed due to the COVID-19 outbreak. We are very fortunate that although we have had several employees test positive for COVID-19 during the quarter, none have suffered from serious symptoms and our operations have been unaffected by the occasional absence of a quarantined employee.

 

In addition to conducting our routine production operations, we have been busy during this past quarter planning our fourth quarter rig activity and resurrecting and renewing our portfolio of service contracts so that we will be able to work unimpeded in the new year. We have restored the normal rotation of most of our drilling, HSE and security consultants and are planning to move a rig into the Banan field in the coming days to replace a leased jet pump in the Banan-4 well with a more cost effective progressive cavity pump that we have purchased.

 

Following the pump replacement workover in the Banan field, we look forward to getting a rig back in the Zey Gawra field to drill our first well into the Tertiary reservoir there before continuing with additional development and appraisal activities.

 

Despite the current challenging oil price environment, which we expect will prevail for the duration of 2021, we intend to conduct a capital program in 2021 in order to increase our production capacity and further reduce our operating costs.”