DNO discovers oil in Kurdistan Region of Iraq field

oilpeshkabir rsvstks sxc.huThe well, currently drilling ahead of schedule and under budget, is expected to reach total depth of 3,500 metres and will be completed in the Jurassic by early February. (Image source: rsvstks/sxc.hu)Norwegian oil and gas operator DNO has announced that it has discovered oil in Peshkabir-2 well’s Cretaceous horizon in the Peshkabir field, currently being drilling in the Kurdistan Region of Iraq

The well flowed at a stable rate of 3,800 barrels of 28° API oil per day on a 52/64 choke from an open hole test of a 170-metre interval. Pressure data supported by observations of oil shows from cuttings and side wall cores indicate a cretaceous oil interval in excess of 300 metres.

Peshkabir-2 was spud in October 2016 to explore the Cretaceous horizon and appraise the previously tested deeper Jurassic reservoir on a 2012 discovery 18km to the west of the company’s flagship Tawke field. Following acquisition of new 3D seismic, Peshkabir-2 was originally planned for 2015 but delayed following the drop in world oil prices and interruption in payments for the company’s production and exports from Kurdistan.

The well, currently drilling ahead of schedule and under budget, is expected to reach total depth of 3,500 metres and will be completed in the Jurassic by early February. Pre-spud estimates for drilling, open hole testing of the Cretaceous and completion stood at US$17.5mn.

DNO is considering a number of options to step up appraisal of the new Cretaceous discovery including a geological side-track in the central part of the Peshkabir structure or a third well. Options are also under consideration for possible early Peshkabir production and trucking to the company's gathering, processing and export facilities at Fish Khabur some 12km away.

“We are very encouraged by what we have seen so far in this well,” said Bijan Mossavar-Rahmani, executive chairman of DNO, adding, “Certainly our subsurface and drilling teams have started the year on the right foot.”

DNO operates and holds a 55 per cent working interest in the Tawke license, which holds the Peshkabir field. Genel Energy and the Kurdistan Regional Government hold a 25 per cent and 20 per cent interest, respectively.

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