OMV hails oil discovery in Iraq's Kurdistan Region
Promising first results from Bina Bawi well - Drilling still ongoing
OMV, Central and Southeastern Europe's largest energy group, has reported a major drilling success in its operated Bina Bawi block in the Kurdistan Region of Iraq. OMV is currently drilling an exploration well (Bina Bawi 3) and encountered hydrocarbons in one of the primary reservoir targets.
The well is still being drilled and further investigations are planned in the course of the well operations including evaluation of deeper potential targets.
Jaap Huijskes, OMV Executive Board member and responsible for Exploration and Production stated: "We are very pleased to announce this discovery of oil. It seems good quality oil and it was flowing to surface following a drawdown test. We are now going to continue drilling but I am confident that the final results will be promising.”
OMV has direct stakes in five blocks in the Kurdistan Region of Iraq, in three of which is the official operator.
OMV's operated blocks are Bina Bawi (36%), Shorish (100%) and Mala Omar (100%).