WesternZagros Resources has been awarded a contract for two 2,000 HP drilling rigs in the Kurdistan Region of Iraq with a leading North American drilling contractor
The two rigs have been contracted to drill the Hasira-1 well, the Baram-1 well and subsequent wells on the company's Garmian Block.
The drilling services contract was awarded for a two-year term with an option to extend for an additional two years, the company said in a statement.
The contract also includes a provision for a third 2,000 HP rig if required.
WesternZagros chief executive officer Simon Hatfield commented, "We are pleased to have reached arrangements to bring two rigs from a new entrant to the Kurdistan Region of Iraq. This contract supports our objectives in the Garmian Block and will further strengthen and diversify the petroleum service sector in the region."
Drilling design and site construction are underway for both the Hasira-1 and Baram-1 wells and long lead items have been ordered in anticipation of the spud dates in June and August, 2013, respectively. The company is also actively assessing future drilling prospects, the selection of which will be influenced by its 3D seismic programs and drilling results on the Garmian Block and neighbouring blocks.
