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.