Afren plc announced that exploration drilling has commenced at the East Simrit prospect (Simrit-3 well) located on the Ain Sifni PSC in the Kurdistan region of Iraq.
Afren and operator Hunt Oil Middle East ("Hunt Oil") have commenced exploration drilling at the East Simrit prospect located on the Ain Sifni PSC in the Kurdistan region of Iraq. The Simrit-3 well is located approximately 6 miles (10 kilometers) east of the successful Simrit-2 discovery well, and is exploring the eastern extent of the large scale Simrit anticline.
The Simrit anticline is a large scale east to west trending structure located on the northern part of the Ain Sifni PSC. The partners recently completed drilling of the Simrit-2 exploration well, the purpose of which was to test the western extent of the structure. The well was ultimately drilled to a total measured depth of 12,467 feet (3,800 meters) and encountered 1,509 feet (460 meters) of net oil pay throughout Cretaceous, Jurassic and Triassic age reservoirs. No oil water contact has been established in the target reservoirs. Following the conclusion of drilling operations in June 2012, a comprehensive well test program commenced and is ongoing. The partners intend to undertake up to 12 separate drill stem tests ("DSTs") in total, and announced in July 2012 that the first batch of three DSTs in the Triassic age Kurra Chine formation had yielded an aggregate flow rate of 13,584 barrels of oil per day of 39 degree API gravity oil. The Simrit-3 exploration well is seeking to demonstrate the presence of oil within the same Cretaceous, Jurassic and Triassic reservoir intervals at the eastern extent of the Simrit anticline.
Afren has a 20 percent. interest in the Ain Sifni PSC and is partnered by Hunt Oil Middle East (60 percent. and operator) and the Kurdistan Regional Government (20 percent.).
"The drilling and test results recorded to date have already confirmed Ain Sifni in the Kurdistan region of Iraq to be a world-class asset. The Simrit-3 exploration well, which is part of ongoing evaluation of the block's transformational potential, will test the areal extent of the existing discovery," Chief Executive of Afren Osman Shahenshah commented.
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