Oil Search Updates on Drilling at its Assets in PNG, Kurdistan

Oil Search Limited reported Thursday that as at 06:00 hours Papua New Guinea (PNG) time Feb. 6, the Mananda 7 ST2 well in Petroleum Prospecting License (PPL) 219 in PNG was at a depth of 7,300 feet (2,225 meters) and preparing to set 9.625 inch casing. Drilling progress for the week was 2,030 feet (619 meters).

Mananda 7 ST2 is being drilled as a deviated hole, towards the crest of the Mananda 6 structure. The sidetrack will further define the structural form of the accumulation with the objective of targeting an optimal producer location.

Mananda 7 is located in PPL 219 and is targeting the Toro and Digimu sandstones.

The participants in Mananda 7 are:

  • Oil Search (PNG) Limited - 71.25 percent
  • Nippon Oil Exploration (Niugini) Limited - 20.00 percent
  • Merlin Petroleum Company - 8.75 percent
  • Total - 100 percent

Oil Search reported that at 06:00 hours Kurdistan Region of Iraq (KRI) time Feb. 5, the Taza 2 well was at a depth of 4,432 feet (1,351 meters).

During the week, the 20 inch casing was set and preparations made to install the blow out preventer prior to drilling ahead in a 17.5 inch hole.

Taza 2 is located 6 miles (10 kilometers) north-west of Taza 1 and will appraise the hydrocarbon-bearing intervals discovered by Taza 1 (Dhiban/Jeribe and Euphrates/Kirkuk Formations), as well as explore deeper Tertiary and Cretaceous targets including the Shiranish Formation.

The participants in Taza 2 are:

  • Oil Search (Iraq) Limited* - 60 percent
  • Total E&P Kurdistan Region of Iraq (Taza) B.V. - 20 percent
  • Kurdistan Regional Government (KRG) - 20 percent
  • Total - 100 percent

* Oil Search’s funding interest is 75 percent, with the KRG’s 20 percent interest carried by Oil Search and Total E&P Kurdistan Region of Iraq (Taza) B.V.

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