ERBIL (Kurdistan 24) – British oil firm Genel Energy Plc says it “hit pay” at the latest well it drilled at the Taq Taq field in the Kurdistan Region.
In a statement on Monday, the UK-listed petroleum operator said it completed testing of the TT-32 well, noting that “the well flowed oil from three separate zones.”
According to Genel, the maximum individual zone flow rate at the well is about 5,500 barrels of oil per day (bpd).
“TT-32 has further demonstrated the remaining potential on the flanks of Taq Taq field,” it added.
In addition to its work at Taq Taq field, Genel also operates at the Faysh Khabur (Pesh Khabur) Tawke, and Miran West oilfields and says it has plans to develop production at future sites. The oil firm is expected to drill three more wells in 2019 to target the flanks of the Taq Taq field and has its eyes set on a “year-on-year” production increase.
Early last year, Genal said it “believes the development of the world-class fields is set to unlock significant value for both the company and the Kurdistan Regional Government.”
In May, the British-based company said it was on course to reach its output target in the Kurdistan Region.
The Kurdistan Region is rich in natural resources, primary among them oil and gas. Currently, the government of the autonomous region exports over 300,000 bpd to the Ceyhan port in Turkey.
Editing by John J. Catherine