Oil Search Provides Updates on Taza PSC

Source: www.gulfoilandgas.com 6/5/2014, Location: Middle East

Oil Search reports that, the Taza 2 well was at a depth of 3,635 metres and drilling ahead in a 6-1/8” hole. Hydrocarbon shows continue to be observed through the Euphrates and Kirkuk Formations. Drilling progress for the week was 134 metres.

The forward plan is to drill ahead to the Shiranish Formation.

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


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