Iraq: OMV Kurdistan well encounters oil

By OGJ editors
HOUSTON, June 3
– OMV AG said good quality oil flowed to surface following a drawdown test at its Bina Bawi-3 exploratory well in Iraq’s Kurdistan Region. Drilling continued to deeper objectives.

OMV, operator of the Bina Bawi block with 36% interest, said the well encountered the hydrocarbons in one of the primary reservoir targets. It did not disclose the depth, age, or name of the formation.

OMV has direct stakes in five blocks in the Kurdistan Region. Besides Bina Bawi, it operates the Shorish and Mala Omar blocks with 100% interest. The company said it participated in three exploratory wells that were drilled and completed in 2010 and had two exploratory successes on the Sarta and Rovi blocks.

Pearl Petroleum Co. Ltd., in which OMV holds a 10% interest, ramped up gross production in Khor Mor field to 174 MMcfd of gas and 8,500 b/d of condensate in 2010. Through Khor Mor and Chemchemal gas fields, Pearl gives OMV access to significant gas reserves and contingent resources including condensate and liquefied petroleum gas.

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