Austria’s OMV has began production at Bina Bawi-3 well, located in the Kurdistan Region of Iraq, at the rate of 5,000 barrels of oil equivalent per day (boepd)
The Bina Bawi field, at Erbil, has a potential of 10,000 boepd when wells Bina Bawi-4 and Bina Bawi-5 become available in future, OMV said in a statement.
A further extensive testing programme has been planned for the two wells during Q2 of 2013.
Jaap Huijskes, executive board member at OMV, said, “In accordance with our partners — Genel Energy and Kurdistan Regional Government (KRG) — we will continue our work to fully appraise the potential of this promising field. OMV sees the Kurdistan Region of Iraq as an important area for growth and the progress on the Bina Bawi field underlines our ability to execute our strategy.”
OMV owns 36 per cent stake in the Bina Bawi field, with Genel Energy and KRG owning 44 per cent and 20 per cent respectively.
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