The consortium comprised of Kuwait Energy (70% and operator) and Dragon Oil (30%) has made its second oil discovery at Block 9 in Iraq, Kuwait Energy said in a news release.
The discovery was at the consortium's second target, the Yamama formation at 4,000 m (13,123 ft), in its Block 9 exploration well, Faihaa-1, located in Northern Basra in Iraq, the release said.
Preliminary tests of the Faihaa-1 Yamama formation resulted in oil flow rates of between 5,000 bbl/d and 8,000 bbl/d of 35 API crude on 32/64-in. and 64/64-in. chokes, respectively.
The consortium will conduct more detailed testing on Yamama toward the end of the year.
Recommended Reading
Global Partners Buys Four Liquid Energy Terminals from Gulf Oil
2024-04-10 - Global Partners initially set out to buy five terminals from Gulf Oil but the purchase of a terminal in Portland was abandoned after antitrust concerns were raised by the FTC and the Maine attorney general.
IKAV and VTTI to Buy Majority Stake in Italy's Adriatic LNG Terminal
2024-03-27 - The closing of the deal to buy majority stake in the Adriatic LNG terminal by VTTI and IKAV is expected in the second half of the year.
TotalEnergies Buys Majority Stake in Ecoslops Provence JV
2024-03-01 - TotalEnergies bought out its joint venture partner to become the sole shareholder in cleantech venture Ecoslops Provence.
EIG’s MidOcean Energy Acquires 20% interest in Peru LNG
2024-02-08 - On top of acquiring a 20% interest in Peru LNG, MidOcean Energy is also in the process of acquiring interests in four Australian LNG projects.
Marketed: Williston, Powder River Basins 247 Well Package
2024-03-11 - A private seller has retained EnergyNet for the sale of a Williston and Powder River basins 247 well package in Sheridan, Montana, Burke and McKenzie counties, North Dakota and Campbell County, Wyoming.