Oil Search Provides Update on Taza 2 Drilling in Kurdistan, Iraq

Oil Search Limited reported Thursday that at 6:00 hours Kurdistan Region of Iraq (KRI) time April 16, the Taza 2 well in Kurdistan, Iraq was at a depth of 10,498 feet (3,200 meters) and drilling ahead in an 8.5 inch hole towards the first of the primary objectives, the Jeribe Formation. During the week, the well was drilled out of the casing shoe, pressures tests were conducted and 36 feet (11 meters) of new formation was drilled.

Taza 2 is located 6.21 miles (10 kilometers) north-west of Taza 1 and is designed to appraise the hydrocarbon-bearing intervals discovered by Taza 1 (Jeribe/Dhiban 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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