KEC Gives New Iraq Minister Some Good News

Kuwait Energy (KEC) has announced a heavy oil discovery in Iraq’s Block 9 in northern Basra province after drilling its first well.

While the Kuwait independent has yet to fully evaluate the discovery, the development will come as welcome news to the company, which is among the few foreign operators to have been impacted by the current turmoil in the country.

The company, which operates Block 9 with a 70% stake, said in a statement on 10 September that the consortium, which includes the UAE’s Dragon Oil (30%), had made its first successful discovery in the first target of the Faihaa-1 well in the Mishrif formation, at a depth of 2,700ms. Preliminary tests resulted in a flow rate of around 2,000 b/d of 20°API oil through a 32/64” choke. The consortium will conduct more detailed testing on Mishrif towards the end of the year, it adds. (CONTINUED - 318 WORDS)