Genel and Addax Petroleum Spud First Well in Taq Taq Licence Northern Iraq

Source: www.gulfoilandgas.com 5/15/2006, Location: Middle East

Genel Enerji A.S. and Addax Petroleum Corporation announced the commencement of drilling activities in their first jointly operated well in the Taq Taq License Area in the Kurdistan Region of Northern Iraq. Genel has entered into a Production Sharing Agreement (PSA) with the Kurdistan Regional Government on 20th January 2004. This PSA superseded an earlier document dated 17th July 2002 pertaining to the exploration and exploitation of the Taq Taq License Area. Since the handover on 25th February 2003, Genel has assumed operations in the licensed area.

To supplement and support the technical and operational capacity of Genel, a Technical Services Agreement and a farm in agreement were signed by Genel and Addax Petroleum in July 2005. Since then, Genel and Addax Petroleum have conducted a 2-D seismic data acquisition campaign between December 2005 and April 2006 to define the extent of the Taq Taq structure. The well now being spudded is scheduled to reach a targeted depth of approximately 2,250 m in the oil bearing Cretaceous Shiranish, Kometan and Qamchuga formations.

Genel and Addax Petroleum have jointly established the Taq Taq Operating Company (TTOPCO) as a special purpose entity to carry out the petroleum operations in the license area. TTOPCO conducts its operations through Ankara Operation Office and Taq Taq Field Office with the support of parent companies, Genel and Addax Petroleum.

This well is the first of a three well drilling program which Genel and Addax have commenced in response to the urgent local energy requirements of the Kurdish region in Northern Iraq, and in fulfillment of a request from the regional authorities to expeditiously satisfy these needs.


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The well was drilled...


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Related Articles: Artificial Lift  Cementing, Stimulation  Directional Drilling  Drilling  Drilling Engineering & Equipment Systems  Enhanced Oil Recovery  General  Logging, Perforating, Testing  Offshore Drilling  Reservoir/Completion Consultants  Workover & Well Services  Workover Rigs/Services 


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