Oil Search Provides Update on Taza 2 Well

Oil Search reports that the Taza 2 well, located in the Taza PSC in the Kurdistan Region of Iraq (KRI), spudded on 25 December 2013. As at 06:00 hours KRI time on 1 January 2014, the well was at a depth of 199 metres and preparing to drill ahead in a 24” hole. During the week, the 30” hole was drilled to 199 metres and the 26” casing was set.

Taza 2 is located 10 kilometres north-west of Taza 1 and will appraise the hydrocarbon-bearing intervals discovered by Taza 1 (Dhiban/Jeribe and Euphrates/Kirkuk Formations), as well as explore deeper Tertiary and Cretaceous targets including the Shiranish Formation.

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.

For more information about related Opportunities and Key Players visit Iraq Oil and Gas Projects