Norwegian oil and gas operator DNO has discovered oil in Peshkabir-2 well’s Cretaceous horizon in the Peshkabir field, currently being drilling in the Kurdistan Region of Iraq, Oil Review Middle East reported.
In a statement, the company announced: “The well flowed at a stable rate of 3,800 barrels of 28° API oil per day on a 52/64 choke from an open hole test of a 170m interval. Pressure data supported by observations of oil shows from cuttings and side wall cores indicate a Cretaceous oil interval in excess of 300m,” informed Kurdistan 24.
DNO, along with Genel Energy and the Kurdistan Regional Government (KRG), are looking at the possibility of early production at the Peshkhabir oil field. Furthermore, the drilling in the Peshkhabir-2 well was expected to reach a depth of 3,500m and would be completed by early February. The statement added: “Pre-spud estimates for drilling, open hole testing of the Cretaceous, and completion stood at $17.5.” Moreover, The company also mentioned they would consider other options to intensify the appraisal on the discovery such as a geological sidetrack in the central part of the Peshkabir structure or a third well.
DNO, which mainly operates in the Middle East and North Africa, owns a 55% working interest in the Tawke license that holds Peshkhabir oil field, while Genel Energy has 25% and the KRG 20%. The company further holds stakes in onshore and offshore licenses at various phases of exploration, development, and production in different places such as Kurdistan, Oman, Yemen, the United Arab Emirates, Somaliland, and Tunisia.