MOL declares Kurdistan Region of Iraq’s block commercial

oil kri-cfiesler flickrHungary-based MOL Group has declared the Akri-Bijeel block in the Kurdistan Region of Iraq commercial, based on two oil discoveries and tests that confirm long-term production sustainability

The oil and gas company said that the announcement was based on the Bijell-1 Jurassic discovery and the Bakrman-1 Triassic find in the block.

Early oil production is likely to resume from the Bijell-1B well in the first quarter of 2014, MOL Group added.

Following the group’s announced discovery in the Bakrman-1 exploration well in February 2013, a 24-day production test in July and August confirmed light oil and sour gas with maximum production rates of 3,192 bpd of oil and gas at 1,019 bpd of oil equivalent from the Triassic.

Alexander Dodds, executive vice president at MOL Exploration & Production, said, “MOL Group is pleased to announce commerciality on the Akri-Bijell block after recent successful long-term tests in our Bakrman discovery,” adding that at the Bijeel area MOL has identified the potential to accelerate the work programme and increase the number of rigs in order to finalise the appraisal activity soon and maximise extended well test production during 2014.

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