Genel Makes 'Significant' Oil Discovery in Kurdistan

Anglo-Turkish independent Genel Energy reported Wednesday that it has made a significant oil discovery in the Kurdistan region of Iraq.

Genel said that the Chia Surkh 10 well – the first of five wells that it plans to drill this year in Kurdistan – was drilled to a depth of 5,565 feet into the Oligo-Miocene section. Tests over several days flowed oil at 11,950 barrels per day and gas at 15 million cubic feet per day, the firm said. The oil's gravity was 41 degrees API, while the well-head flow pressue was 2,000 pounds per square inch.

Chia Surkh 10 was drilled on a large thrust-fault, controlled structure with up to 36 square miles of closure. A second drill-stem test is being planned for the Miocene section, after which the well will be suspended as a future producer.

Genel has already begun drilling another well, Chia Surkh 11, to appraise the discocery.

Genel Chief Executive Tony Hayward commented in a statement:

"We intend to carry out a rapid appraisal and development programme and expect to have an early production scheme operating in the first half of 2014. Over the same period we will be evaluating and drilling a number of other prospects we have in the Chia Surkh licence.
 
"We are delighted at this level of success in what is the first of the five high-impact exploration wells we plan in the Kurdistan Region of Iraq during 2013. To have made a discovery of such potential materiality at this early stage is highly encouraging."

Chia Surkh 10 is the first exploration well to be drilled on the Chia Surkh acreage since 1954, according to Genel. The license is operated by Genel, which holds a 60-percent stake. The remaining 40 percetn is held between Petoil and the Kurdistan Regional Government.



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  First Workers Complete New Industry Tr... (Mar 29)
 -  Mexico, UK Strengthen Ties with 5-Day ... (Mar 29)
 -  Sparrows Group Teams in Australia to D... (Mar 28)
 -  INPEX to Reorganize Natural Gas Busine... (Mar 28)
 -  Scottish Offshore Service Provider Pra... (Mar 28)


Most Popular Articles

From the Career Center
Jobs that may interest you
CDL Class A Driver
Expertise: Motorman|Truck / HGV Driver
Location: Midland, TX
 
Rig Mechanic Senior
Expertise: Rig Mechanic|Rig Welder
Location: Beggs, OK
 
GIS Developer
Expertise: IT - Software Development|Software Specialist
Location: Lafayette, LA
 
search for more jobs

Brent Crude Oil : $51.33/BBL 1.14%
Light Crude Oil : $48.37/BBL 1.34%
Natural Gas : $3.1/MMBtu 1.63%
Updated in last 24 hours