Oryx Petroleum hits oil again in Kurdistan Region of Iraq

oil well KRI-blmurch flickrOryx Petroleum has spudded the Banan-2 appraisal well (BAN-2) in the Hawler Licence Area in Kurdistan Region of Iraq

Oryx Petroleum is the operator and has a 65 per cent participating and working interest in the area.

Henry Legarre, COO of Oryx Petroleum, said, “This is one of the most important wells we will drill in 2014 as it allows us to assess the multi-hundred million barrel potential up-dip of the Banan-1 exploration well that was successfully tested earlier this year. The drilling of BAN-2 and the acquisition of 3D seismic in the next few months should provide us with a better understanding of the full potential of the Banan discovery.”

The Sakson Hilong 10 rig spudded the BAN-2 appraisal well around five kilometres to the northwest of the Banan-1 exploration well (BAN-1).

In March 2014, oil was successfully flowed in two cased-hole drill stem tests on the BAN-1 exploration well, one in each of the Cretaceous (Shiranish and top Kometan formations) and the Lower Jurassic (Butmah formation), the company said. Additionally, the drilling and test results showed the development of additional reservoirs that will be further appraised and tested as part of the appraisal programme for Banan.

Prior to the start of the BAN-1 testing programme, Netherland, Sewell & Associates, Inc. estimated as of 31 December 2013 that the Banan discovery contains low, best and high estimates unrisked gross (100 per cent) contingent oil resources of five million barrels of oil, 40 million barrels of oil and 440 million barrels of oil respectively, all in the Cretaceous formations.

BAN-2 is targeting oil potential in Cretaceous, Jurassic and Triassic formations and is planned to be drilled to a total measured depth of 3,800 metres. The well is expected to reach targeted total depth and complete testing in Q4 2014.

Alain Charles Publishing, University House, 11-13 Lower Grosvenor Place, London, SW1W 0EX, UK
T: +44 20 7834 7676, F: +44 20 7973 0076, W: www.alaincharles.com

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