ShaMaran Petroleum strikes oil in Kurdistan Region

Shamaran-IraqShaMaran Petroleum has announced that a new well drilled into the Atrush exploration block in the Kurdistan Region of Iraq was tested at a flowrate of more than 42,000 bpd

The Canadian company’s second appraisal well in the Atrush block found flow rates totaling 42,212 bpd after drill stem testing.

“Separate cased hole drill stem tests were conducted over three of the formations in the Barsarin-Sargelu-Alan-Mus (BSAM) reservoir. Rates totaling 42,212 bpd were achieved," ShaMaran said in a statement.

"The test rates were limited by surface testing equipment. None of the tests had measurable amounts of formation water.”

The Atrush-2 appraisal well, which spudded on 23 May, drilled 3.1 km to the east and downdip of the Atrush-1 discovery well in the Kurdistan Region. According to ShaMaran, the well was drilled 30 per cent under budget.

The Atrush Block is operated by the joint-venture company General Exploration Partners Inc. (GEP) which holds an 80 per cent working interest in the Block. Aspect Holdings, through its Aspect Energy International subsidiary has a 66.5 per cent interest and ShaMaran Petroleum Corp, through its wholly owned subsidiary, ShaMaran Ventures, holds a 33.5 per cent interest in GEP. Marathon Oil, a wholly owned subsidiary of Marathon Oil Corporation, holds a 20 per cent interest in the block.

Pradeep Kabra, president and chief executive officer of ShaMaran, commented, "The results from the Atrush 2 well demonstrated the excellent production capability of the BSAM reservoir."

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