MOL Hungarian Oil and Gas strikes oil in Kurdistan

Gulf Keystone announces MOL Hungarian oil find in Kurdistan Region

The Bakrman-1 well was drilled to a depth of 4,100 metres in the Kurra CHine B formation in the Triassic.
The Bakrman-1 well was drilled to a depth of 4,100 metres in the Kurra CHine B formation in the Triassic.

Gulf Keystone has announced that MOL Hungarian Oil and Gas Plc., the operator of the Bijeel blck in the Kurdistan Region of Iraq, has made a new find in the Triassic reservoir zone of the Kurra Chine B formation.

This is the second discovery on the block following the Bijell discovery made in 2010.

The Bakrman-1 well was spudded in May 2012, 32 km to the north-west of the Bijell-1 discovery well. The well was drilled to a total depth of 4,100 metres in the Kurra Chine B formation in the Triassic, following which a well testing programme commenced, targeting reservoir zones in the Jurassic and Triassic.

Two open hole tests and three cased hole tests have been performed to date. According to the operator, the second open hole well test performed at 3,930-4,100 metres MD (measured depth) in the Kurra Chine B formation in the Triassic resulted in calculated daily flow rates of approximately 2,616 barrels of light (32 to 35 degrees API gravity) oil per day and a gas rate of approximately 5.86 million standard cubic feet per day. The well testing programme is ongoing and is expected to be completed in April 2013.

The company also stated that the Gulak-1, the fourth exploration well to be drilled on the Akri-Bijeel block and the first exploration well to target the Gulak anticline, spudded in July 2012, has been drilled 21 km to the east from the Bijell-1 discovery well and 5 km to the south from the Bekhme-1 exploration well to a total depth of 3,641 metres in the Kurra Chine B formation in the Triassic.

The well test programme, consisting of five tests, has now been completed. In the course of the DST#4 performed at 2,385-2,420 metres MD in the Sargelu and Naokelekan formations in the Jurassic, minor inflows of between 22-30 degrees API oil were encountered. Following the completion of the DST#5, it is proposed that the well will be suspended.

"The second discovery on the Akri-Bijeel block marks the beginning of an exciting year for Gulf Keystone. We look forward to joining the ranks of key producers in the Kurdistan Region of Iraq in 2013,” said John Gerstenlauer, Gulf Keystone’s chief operating officer.

“In addition to drilling a number of development wells on Shaikan, as well as our first deep exploration well, we anticipate further positive results of the extensive exploration, appraisal and early production programme on the Akri-Bijeel block. We will also focus on appraising the Sheikh Adi discovery, taking into account clear future synergies with Shaikan in terms of production facilities, infrastructure and logistics."

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