Russia’s Bashneft International, operator of Bashneft’s overseas upstream projects, has announced the completion of seismic surveys over Iraq’s Block 12
Oil Exploration Company, Iraqi company specialising in geological and geophysical exploration, was employed as the contractor to conduct the surveys at the onshore block for six months. The company also performed 3D seismic surveys covering an area of 849 sq km and 2D seismic surveys along two lines with a total length of 192 linear km.
“Currently, seismic data processing and interpretation is underway,” Bashneft said, adding that the data will serve as a basis for seismic and geological modelling aimed at identifying formations that are potentially oil- and gas-bearing.
Bashneft will begin exploration drilling at Block 12 late 2016.
The five-year geological exploration programme in the Iraqi block, which may be extended for two years, involves conducting 2D and 3D seismic surveys and drilling one exploration well. Investments during the five-year period total US$120mn.
Block 12 has an area of 7,680 sq km and forms part of the Western Desert, an unexplored region having the greatest oil potential in Iraq. The block is located in the Najaf and Muthanna provinces, approximately 80 km to the southwest of the city of Samawa and 130 km to the west of the city of Nasriya.
Bashneft gained the right to operate hydrocarbon exploration, development and production at Block 12 following a licensing round in June 2012.
