DNO Completes 3 New Production Wells in Kurdistan Region of Iraq

Norwegian oil and gas operator, DNO ASA, reported Wednesday the completion of three new production wells at the flagship Tawke field in the Kurdistan region of Iraq.

The Tawke-31 well, targeting the main Cretaceous reservoir, will be brought on production following an acid stimulation program. Two additional wells targeting the shallow Jeribe reservoir, Tawke-33 and Tawke-34, are also being readied for production. A fourth well, Tawke-37, will be spud next week.

The four wells are expected to cost less than $20 million in total and add about 10 percent to field output capacity. The wells are part of a stepped up drilling program, which kicked off in July.

Earlier this month DNO also spudded the Peshkabir-2 well to appraise the Jurassic reservoir and explore the deeper Cretaceous horizon on a previous discovery to the west of the main Tawke field. This well marks the completion of the current drilling program at the Tawke license, which was initiated on the back of monthly export payments from the Kurdistan Regional Government.

Plans to engage a third drilling rig were dropped in September, though the company expects to re-start investments to boost production to a targeted level of 135,000 barrels of oil per day (bopd) following the resumption of regular and predictable payments.

Tawke production during the third quarter averaged 109,159 bopd, of which 108,759 bopd was delivered for export through Turkey.



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