http://www.norwaypost.no/cgi-bin/norway ... r?id=19429
Norwegian oil company first in Iraq
Iraq has resumed exploratory drilling for oil after a 20-year break. The Norwegian oil company DNO, as the first company, has started drilling for oil in Northern Iraq.
/ np
30.11.2005 08:29
No foreign company has been allowed to search for oil during the Saddam Hussein regime.
DNO has managed to gain a foothold in the Kurdish region, ahead of the larger international oil companies, after they in 2004 entered into an agreement, a so-called Production Sharing Agreement, with the local Kurdish self-governing administration.
DNO owns a 40 per cent share according to this agreement.
The area now being tested has not been explored before, but is located only a few miles away from some of the largest on-shore oil fields in the world, around the city of Kirkuk, near the border with Turkey.
In a press release, DNO says it is pleased to announce that commencement of drilling of its first well within the Kurdish Region of Northern Iraq has been confirmed.
The Norwegian company goes on to say that the well named Tawke # 1 has now been spudded and is planned to be drilled to a total depth of approximately 3,000 meters.
The drilling is expected to take 60 days and there are identified three prospective reservoir zones in this highly prospective structure. Tawke # 1 is the first well under the existing Production Sharing Agreements signed with Kurdistan Regional Government (KRG) in June 2004. Earlier this year DNO completed 440 km 2-D seismic within the same PSA areas.
"Commencement of drilling within the Kurdish Region of Northern Iraq marks a new milestone to DNO as an international E & P company. We are proud of the good progress we have achieved in this project with drilling operations taking place less than 1.5 year after the PSA's were signed. This achievement is a product of the excellent cooperation between KRG and DNO", comments Helge Eide, Managing Director.
DNO is the Operator of the PSA's holding a 40 % beneficial interest.
(NRK/HUGIN)
Rolleiv Solholm
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