Iraq

Longford Energy Inc., Calgary, assumed from Forbes & Manhattan (Barbados) Inc. a 20% interest in the Chia Surkh production sharing contract area in Iraqi Kurdistan’s Sulaymaniya governorate.

By OGJ editors
HOUSTON, July 28
– Longford Energy Inc., Calgary, assumed from Forbes & Manhattan (Barbados) Inc. a 20% interest in the Chia Surkh production sharing contract area in Iraqi Kurdistan’s Sulaymaniya governorate.

Genel Enerji AS of Turkey holds a 20% working interest in the PSC. Longford will hold a 50% beneficial interest in a Barbados company named Subco that has a 40% direct working interest in the PSC. Longford has an option to require the other half of Subco.

Genel and Longford will carry 20% interests held by a private Turkish company in the first obligation period and 20% interest held by the Kurdistan Regional Government.

Longford Energy expects to spend more than $100 million in the next 3 years on the block. Work requirements include shooting 250 line-km of 2D seismic and drilling two wells. The Chia Surkh structure covers 42 sq km, and the company believes the reservoir correlates to fractured reservoirs in Khor Mor gas field 70 km northwest and is prospective in the Asmari reservoir. Deeper unevaluated horizons also could be prospective.

The 938 sq km borders Iran and is mostly in the foothill tectonic zone that contains most of northern Iraq’s large oil fields.

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