Kuwait Energy and Dragon Oil make oil discovery at Iraqi well

oilKuwait Energy and Dragon Oil have announced a discovery at the onshore Iraq oil well Faihaa-1

According to a statement from the companies, the well located north of Basra produced 2,000 bpd oil during a production test.

The firms will continue drilling in the area and conduct further tests in Faihaa-1 towards the end of the year.

Sara Akbar, CEO of Kuwait Energy said, “This is the first well drilled in our planned high-impact exploration campaign on Faihaa-1, so we are delighted to have made a discovery so quickly.

“We continue to believe that this area has strong exploration potential and look forward to facilitating an appraisal plan on Faihaa-1 and continuing to drill other exploration targets.”

Kuwait Energy revealed that the work commitment in the initial five-year exploratory period will include de-mining, seismic acquisition, and drilling one exploratory well.

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