Following approval of its declaration of commerciality by the Kurdistan Regional Government (KRG), WesternZagros Resources Ltd. is moving to develop the first of its two significant light oil discoveries. Once its development plan for the Sarqala field is approved, the Company expects to produce up to 10,000 barrels per day (bbls/d) of light, sweet oil in the second half of 2014.

"After 10 years of rewarding exploration in the Kurdistan Region, WesternZagros is turning its discoveries into production that is destined for the domestic market and potentially the Kurdistan Region's export markets via the new pipeline," said Simon Hatfield, Chief Executive Officer of WesternZagros. "This monumental step marks a new era in our Company history that was recently defined by the KRG's approval of our declaration of commerciality on the Sarqala Discovery."

Tags: WesternZagros Resources Ltd.