Marathon Finds Oil in the Kurdistan Region of Iraq

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Marathon Oil Corporation’s subsidiary Marathon Oil KDV B.V. made a discovery in the company-operated Harir Block in the Kurdistan Region of Iraq. The Mirawa-1 exploratory well discovered multiple stacked oil and natural gas producing zones, the operator said in a press release.

Drilled to a total depth of 14,000 feet, the Mirawa-1 well found oil and natural gas shows over an extensive gross interval of both Jurassic and Triassic reservoirs from 5,800 feet to total depth. Marathon performed an extensive drill stem test and flow rates were established from multiple zones in the Jurassic, producing high-quality oil. The flow rates totaled in excess of 11,000 barrels of oil per day (bopd). In addition, non-associated gas zones in the Triassic flowed at rates totaling about 72 million cubic feet per day (MMcfd) together with associated condensate from one zone at a rate of 1,700 bopd, the press release added.

Marathon will suspend the well for potential future use as a producing well. The drilling rig will now relocate to the Jisik-1 prospect that lies 9 miles northwest of Mirawa. The objective of this prospect is to test a similar prospective structure to the discovery well, the operator said.

The company spud the well March 19, reaching a total depth of 13,975 feet in July.

"The Mirawa oil and natural gas discovery well found significant resources in both the Jurassic and Triassic reservoirs. We look forward to further appraising this discovery and drilling our next Harir Block prospect, Jisik," said Marathon Oil President and CEO Lee Tillman, in a press release. "The success we and others have had in the Kurdistan Region of Iraq, including this most recent discovery, demonstrates the importance of this region as a potential major hydrocarbon producer. As the first large U.S. publicly traded company to enter in October 2010, Marathon Oil is pleased to have a strong presence in the Kurdistan Region of Iraq."

Marathon has been present in the Kurdistan Region of Iraq since October 2010. The company acquired four exploration blocks totaling 368,000 net acres and then in July 2012 farmed-out two blocks, Harir and Safen, located northeast of Erbil to Total S.A.

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