Oil Search Continues the Taza 1 Well Drilling

Source: www.gulfoilandgas.com 11/1/2012, Location: Middle East

Oil Search reports that the Taza 1 well was at a depth of 3,150 metres.

During the week, 99 metres of 6” hole was drilled into the first objective, the Jeribe Formation. Elevated gas readings and oil shows have been observed over a 70-metre interval in this section. The hole is currently being stabilized in preparation for testing.

The Taza prospect is located approximately 80 kilometres southwest of the city of Sulaymaniyah. The primary objectives are Miocene and Oligocene carbonates of the Jeribe and Euphrates Formations.

The participants in Taza 1 are:
- Oil Search (Iraq) Limited * (60%)
- Total E&P Kurdistan Region of Iraq (Taza) B.V (20%)
- Kurdistan Regional Government (KRG) (20%)

Oil Search’s funding interest is 75%, with the KRG carried by Oil Search and Total E&P Kurdistan Region of Iraq (Taza) B.V.


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