Oil Diplomacy Editor
LOS ANGELES, Dec. 22 -- Heritage Oil Ltd has commenced drilling the Miran West-1 well in the Kurdistan Region of Iraq, the first exploration well to be drilled on the Miran license.
Heritage received license 15 months ago, said Tony Buckingham, Heritage chief executive officer. The drilling contractor is Great Wall Drilling Co. Ltd.
"The Miran block is highly prospective containing two anticlines that have the potential to contain billions of barrels of oil from multiple potential reservoir targets," Buckingham said.
The rig will drill the Miran West structure to an anticipated depth of 2,500-3,000 m, targeting what Heritage calls the three principal proved reservoir formations. They are the Shiranish, Kometan, and Qamchuqua reservoirs.
The Miran license contains two large structures, Miran West and Miran East that have been mapped from some 332 km of seismic data acquired by Heritage.
Heritage has a strategic agreement with the Kurdish Regional Government to establish a 50:50 joint venture company aimed at building, owning, and operating a 20,000 b/d oil refinery in the vicinity of the license. The refinery is scheduled to be operational within 2 years.
Heritage is operator and holds a 100% interest in the Miran license, an area of 1,015 sq km west of the city of Suleimaniah.
Contact Eric Watkins at email@example.com.