The well will target prospective intervals in the Jurassic and Triassic to reach the planned total depth of about 3,500m.

The company said Shaikan-5 is the third deep appraisal well to be drilled on its major oil discovery with gross oil-in-place volumes of between 4.9 billion barrels and 10.8 billion barrels calculated on the P90 to P10 basis with a mean value of 7.5 billion barrels.

Gulf Keystone operates the Shaikan block with a 75% working interest and is partnered with Kalegran nd Texas Keystone with 20% and 5% stake.