Atrush field gross average daily production in 2020 is expected to range from 44,000 bopd to 50,000 bopd. ShaMaran is generating cash flow that can fund organic growth and the Company is now strongly positioned to act on new accretive opportunities as they present themselves. As a Lundin Group Company, ShaMaran can leverage the expertise and strength of a family that has been building resource companies around the world for more than 40 years.
Atrush field gross average daily production is expected to range from 44,000 bopd to 50,000 bopd. Final 2020 production will depend principally on well, facility and export pipeline uptimes. Atrush average lifting costs are estimated to range from $5.50 per barrel to $6.70 per barrel. Atrush gross capital expenditures for 2020 are estimated at $131 million ($36 million net to ShaMaran) for facility improvements and operating efficiencies. The deployment of additional installed well capacity in 2020 will optimize currently underutilized productive facilities and harvest cash flows for future development plans. Plans include commencing construction of a gas solution at PF-1 which will sweeten gas for displacement of current diesel use in the facilities and will significantly reduce and ultimately eliminate gas flaring in the block, an important step forward in environmentally responsible development.