Middle East-focused exploration company Oryx Petroleum has made its third oil discovery in the Hawler License area at the Zey Gawra prospect in the Kurdistan Region of Iraq
According to the Wall Street Journal, Orxy Petroleum said its ZEG-1 well tested flow rates of 4,800 bpd of light crude from an 81-metre column.
The ZEG-1 well was spud in April 2013. The Zey Gawra prospect has been estimated to contain 23mn barrels of oil reserves. Orxy Petroleum owns a 65 per cent operating interest in the Hawler license area.
Orxy Petroleum chief operating officer Henry Legarre said, “Hawler is proving to be a prolific license area. We are very pleased to have made our third consecutive oil discovery there this year. More work needs to be done to confirm the size of the discovery but we believe it will be substantially larger than our pre-drill estimates.
“We are already planning our first Zey Gawra appraisal well for 2014 and are confident that the discovery will be established as commercial.”
Oryx Petroleum has planned a multi-well appraisal and development drilling program in the Hawler license area.
Earlier this year, Orxy Petroleum discovered crude at the Ain Al Safra prospect on the Hawler License. It also announced plans to develop the Demir Dagh license in the Kurdistan Region of Iraq, targeting an initial production of 7,000 bpd to 9,000 bpd in Q2 2014.
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