Oil Search Provides Updates on Taza PSC

Source: www.gulfoilandgas.com 12/12/2013, Location: Middle East

Oil Search reports that the Taza 2 well, located in the Taza PSC in the Kurdistan Region of Iraq, is anticipated to spud shortly.

Taza 2 is an appraisal well of the Taza 1 oil discovery made in early 2013. The well 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 well’s planned depth is approximately 4,000 metres and it is estimated to take approximately 200 days to drill.

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


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