The Anglo-Turkish oil and gas independent, Genel Energy, reported that the first of five exploration wells it plans to drill this year in the Kurdistan Region of Iraq has made a significant oil discovery.

The Company said the Chia Surkh 10 well was drilled to a depth of 1,696 metres in the Oligo-Miocene section, and, in tests extending over several days, flowed at up to 11,950 barrels of oil a day and 15 million cubic feet of gas. The oil was 41 degrees API and well-head flow pressure 2,000 pounds a square inch.

Chia Surkh 10 was drilled on a large thrust-fault, controlled structure with up to 94 square kilometres of closure. A second drill-stem test is being planned for the Miocene section, after which the well will be suspended as a future producer.

Genel Energy chief executive Tony Hayward said the well confirmed the presence of 'a significant oil find' and that the Company had this week begun drilling a second well, Chia Surkh 11, to appraise the discovery.

Tags: Genel Energy