ERBIL, Kurdistan Region (Kurdistan 24) – Britain’s Genel Energy Plc on Monday said one of its oil wells in the Kurdistan Region encountered potential oil bearing reservoirs.
One of several foreign oil firms in Kurdistan, Genel made the discovery after drilling one of its wells to appraise the northern end of its Taq Taq oilfield.
The well, which has been drilled since February, was meant to “reduce uncertainty about the free water level in the north flank of the field,” Reuters reported.
Upon the discovery, Genel decided to delay further developments of the Cretaceous reservoir until results of the testing program were available.
“Combined with the testing results, management is optimistic [about] the potential of the northern flank of the Taq Taq field,” a statement from Genel read.
The well, which was drilled to a measured depth of 3,100 meters, “encountered good quality oil bearing Cretaceous Shiranish and Kometan reservoirs,” the Britain-based energy firm added.
Genel highlighted the potential of the discovery but said it was too early to predict what impact the well would have on reserves, long-term production rates, or future investment in the northern flank and field as a whole.
The Taq Taq field, located in northern Kirkuk Province, currently has gross production of 15,100 barrels of oil per day (bpd).
Oil fields in Kurdistan are on the rise despite sanctions imposed by Baghdad after the Region’s historic Sep. 25 independence vote but remain below their original output levels.
According to oil sources, although crude flow is on the rise, the total volume is still about half of the original export levels before the Erbil-Baghdad crisis negatively affected supplies.
The takeover of Kirkuk by Iraqi forces and Iranian-backed Shia Hashd al-Shaabi militias on Oct. 16 affected Kurdish crude exports.
Editing by Sam A.