DNO hits Cretaceous oil in Kurdistan Region

OSLO, January 9, 2017 – DNO has discovered oil in the Kurdistan Region of Iraq, the company said on Monday. The Peshkabir-2 well made the discovery in the Cretaceous horizon of the Peshkabir field.

Spudded in October 2016, the well flowed at 3,800 bopd. It is expected to reach its targeted depth of 3,500 metres early next month. In addition to exploring the Cretaceous horizon, the well will also appraise a 2012 Jurassic discovery.

Work on the Peshkabir-2 well took a long time to materialise due to the drop in oil prices. It was originally planned for 2015, but this plan was abandoned when payments for DNO’s production and exports were interrupted. The company had also intended to utilise a third rig for Peshkabir-2 but shelved this plan in September 2016.

In its Monday press release, DNO said it was considering a side-track well or possibly a third well to further appraise the Peshkabir discovery. Its proximity to Fish Khabur would allow it to be tied back to infrastructure there, and plans to that end are being drawn up, the company also said.

Photo courtesy of DNO

Read our latest insights on: