Heritage Oil PLC said it is considering phased development of Miran field oil and gas-conensate in the Kurdistan Region of Iraq.
Early development by the end of 2013 targets 80-180 MMscfd of gas for local markets and 10,000-15,000 b/d of oil and condensate. Full field development should comprise an integrated development of the oil and gas-condensate with gas exports to Turkey starting in 2015.
Work is under way on conceptual development studies, gas marketing, and strategies, and Heritage is in discussions with the KRG, gas buyers, and contractors regarding both early and full field development, including the gas export to Turkey where gas demand is rising sharply.
The main Jurassic reservoir at the Miran West-3 well flowed at as much as 22 MMscfd of wet gas with 20 bbl/MMscf of 55° gravity condensate. Heritage said the tested interval is in pressure communication with the main reservoir interval discovered and tested in the Miran West-2 well 4.3 km northwest.
Examination of the wireline log data in conjunction with test data indicates that the well intercepted a pervasive and productive fracture network as planned. It is estimated that the well will be capable of delivering 50 MMscfd of wet gas and 1,000 b/d of condensate once completed and placed on production. The well is being suspended pending reentry and completion as a production well.
The rig will move to the Miran West-4 appraisal location to spud in early June a high angle well targeting the Upper Cretaceous oil-bearing intervals. Heritage plans to undertake an extended well test of these oil-bearing reservoirs for a minimum 6 months starting at the end of 2012.
Heritage has 75% interest in the Miran block, and Genel Energi has 25%.