Oil Search finds oil in Kurdistan

07 September 2009

Drilling campaign yields 750 barrels a day of oil from Shakal-1 well

Australian oil and gas independent Oil Search has found oil at its Bina Bawi concession in the east of the Kurdistan region of Iraq.

Oil was found at the Shakal-1 exploration well after the company and its partners in the concession drilled to a total dept of 3,073 metres. The well flowed 750 barrels a day under test conditions.

Further testing will be undertake during the three weeks to 28 September.

Oil Search holds a 15 per cent interest in the concession, which is operated by the local Shakal Production, a 36 per cent stakeholder. The remaining shares in the concession are held by the local Petoil, with a 9 per cent stake, and the local government, with a 40 per cent stake.

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