Norwegian oil and natural gas company DNO International and its Turkish partner, Genel Energy, announced its Tawke-16 well flowed at a cumulative rate of more than 25,000 barrels of oil per day from "multiple, independently tested zones."
DNO Chairman Bijan Mossavar-Rahmanis said the well was meant to test an undrilled section of the Tawke oil field.
"(B)ased on these test results, Tawke-16 likely is the most prolific well drilled so far in this field by the company," he said in a statement.
The companies estimate they've spent less than $7 million to complete and test the well. DNO said it had a goal of establishing 100,000 bpd from the Tawke field in northern Iraq by the end of the year.
"The successful completion of testing at Tawke-16 has further substantiated the quality of the Tawke field and the potential resource upside that we believe to exist," Genel Energy Chief Executive Officer Tony Hayward said in a statement.
Notable deaths of 2014 [PHOTOS]