Kuwait Energy Commences Faihaa-2 Production in Iraq

Kuwait Energy plc announced the commencement of production from the Faihaa-2 well in the Block 9 concession situated in the Basra Governorate, in Southern Iraq.

The Faihaa 2 well was spud on January 3, with production testing commencing on September 23 at at an initial rate of 9,583 barrels of oil per day from the Yamama-A formation. On October 1 the well started commercial production at a stabilized rate of 5,600 bopd.

“We are proud to announce we have begun production from the Faihaa-2 well in Block 9, Iraq. This accomplishment demonstrates Kuwait Energy’s expertise, skills and our ability to execute these projects efficiently and successfully,” said Sara Akbar, CEO of Kuwait Energy.

“Our strong partnerships with the Iraqi Ministry of Oil, South Oil Company (SOC) and our partners was critical in achieving this milestone,” Akbar added.

Kuwait Energy holds a 60 percent revenue interest and is the operator of the Block 9 concession, while Dragon Oil holds 30 percent and the Egyptian General Petroleum Corporation holds 10 percent.

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