Genel Energy makes commercial oil find in Kurdistan Region of Iraq

oil well KRI-richard masoner flickGenel energy operates the Ber Bahr Block with a 40 per cent stake. (Image source: Richard Masoner/Flickr)Anglo-Turkish oil and gas firm Genel Energy has confirmed a commercial oil discovery at the sidetrack of its Ber Bahr-1 exploration well on the Ber Bahr Block in the Kurdistan Region of Iraq

Ber Bahr-1 was drilled to a total depth of 3,933 metres in May 2012. It then encountered a 300 metre oil column in the Jurassic reservoir of the Chia Zairi formation, but failed to flow hydrocarbons during testing.

UK-listed Genel Energy said that it sidetracked the well and achieved a sustainable flow rate of 2,100 stock tank barrels per day of 15 degree API oil from the Middle Jurassic-aged Sargelu formation.

According to John Hurst, head of exploration at Genel Energy, this new discovery has added to the company’s already significant Kurdistan Region of Iraq resource base.

“We plan to begin a phased development of the field in the second half of this year,” he said in a statement.

Genel operates the Ber Bahr Block with a 40 per cent stake. UK-listed Gulf Keystone holds another 40 per cent while the Kurdistan Regional Government has a 20 per cent carried interest in the production sharing contract.

 

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