Oil Search Observes Hydrocarbon Shows at Taza 2 Well in Kurdistan

Oil Search Limited reported Thursday that at 06:00 hours Kurdistan Region of Iraq (KRI) time July 9, the Taza 2 well in Kurdistan, Iraq was at a total depth of 13,320 feet (4,060 meters) in a 6.125 inch hole. During the week, a number of wireline logs were acquired over the complete 2,437 feet (743 meter) open-hole interval (from above the Euphrates through to total depth in the Shiranish Formation), where hydrocarbon shows have been observed.

The acquisition, processing and evaluation of wireline logs will be completed prior to determining the forward plan, which is expected to include flow testing a number of separate zones in the well.

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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