ESA & PSA
GPC has been playing a pioneering role in cooperation with foreign companies in the field of Exploration & Production Service agreements (ESA & PSA) in some of the company fields. The aim of such agreements was to transfer modern technology in the spheres of petroleum industry and provide investments for the operations of prospecting, exploration and development of different fields. These agreements are as follows
Demo Content GPC contracted with Scimitar as a heavy oil development contractor in Issaran Field on November 4, 1998,
with the objective of applying the Enhanced Oil Recovery (EOR) and maximizing the reserves that could be developed.
Applicable development axes were used according to modern technology in the production of high velocity heavy oil
and enhancement of field reservoir production. Steam injection experiments were made with positive results on 30/7/2001.
The commercial development announcement of the project was declared on 18/10/2001. The original recoverable reserves of
Issaran Field were maximized to rise from 2.9 million barrels by the end of 2003/2004 to reach 41.6 million barrels on 30/6/2017.
Production and Exploration Service Agreement in Area A in the Eastern Desert Fields including the Fields of Karim, Ayun,
Um El-Yusr and Wadi Dara was signed with the following companies:
The French GeoPetrol on 6/8/2002 The Australian Oil Search on 5/12/2005
Kuwait Energy at the present time,North West Shukeir Field was discovered in February, 2009 and put on the production map.
The original proven reserves were maximized to rise from 82.7 million barrels by the end of 2001/2002 to reach 327.4 million
barrels on 30/6/2014[:en]Production and Exploration Service Agreement in Area A in the Eastern Desert Fields including the Fields of Karim,
Ayun, Um El-Yusr and Wadi Dara was signed with the following companies:The French GeoPetrol on 6/8/2002 The Australian Oil Search on 5/12/2005
Kuwait Energy at the present time,North West Shukeir Field was discovered in February, 2009 and put on the production map.
The original proven reserves were maximized to rise from 82.7 million barrels by the end of 2001/2002 to reach 328.9 million barrels on 30/6/2017
Undoubtedly, the successful joint cooperation system has greatly contributed to the achievement of many oil discoveries.
This, in turn, has resulted in the increase of production and reserve rates through the application of modern techniques
and developed geological theories. GPC experiment in the field of petroleum agreements literally imposes itself as a model of success
for the whole oil sector