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It’s been a good week for foreign oil operators in Iraqi Kurdistan. A deal between Baghdad and the KRG will ensure at least
250,000 b/d of exports to be marketed by the federal authorities and the restoration of Erbil’s full 17% entitlement of the federal budget. With the first payments to the foreign companies already disbursed by Erbil out of its own funds, a new discovery announced by US firm Marathon is icing on the cake.
Marathon on 1 December said it had discovered multiple stacked oil and natural gas producing zones in the Harir Block. The discovery was made by the Jisik-1 exploration well 40km north of Erbil. The well was drilled to a depth of 4,600ms and showed oil and gas at an extensive gross interval of both Jurassic and Triassic reservoirs, Marathon said. A drill-stem testing program yielded a sustained flow rate of 6,100 b/d of oil and multiple non-associated gas zones of around 10-15mn cfd without stimulation, along with associated condensate. The Jisik-1 well will be suspended for potent future use as a producing well, it added. (CONTINUED - 288 WORDS)