facebook
twitter
rss
account
search
search
 

Oryx to produce oil from Kurdish Iraq by second quarter

Feb. 11, 2014 at 7:06 AM   |   Comments

CALGARY, Alberta, Feb. 11 (UPI) -- Canadian energy company Oryx Petroleum said its Demir Dagh 2 well in the northern Kurdish region of Iraq is a commercial oil discovery.

Oryx said it submitted a declaration to the semiautonomous Kurdistan Regional Government that the prospect in the Hawler license area was an attractive commercial prospect.

The company said in a statement Monday it was conducting "an extensive appraisal program" to determine how much oil was in the field, but said it was declaring it a commercial prospect now because it was proceeding with the development of production facilities.

"Production [is] intended to commence in the second quarter of 2014," the company said.

It offered no estimate of the reserve potential from Demir Dagh 2.

The Korean National Oil Corp., a minority partner for Oryx at Hawler, said last year yielded 10,000 barrels of oil per day during initial testing in the area.

The central and Kurdish governments in Iraq are at odds over who controls what aspects of the energy sector.

© 2014 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
Russian bank boss feeling sanctions pain Russian bank boss feeling sanctions pain
2
Navy's Triton surveillance drone flies cross-country Navy's Triton surveillance drone flies cross-country
3
Ukraine's State Guard Service receives armored personnel carriers Ukraine's State Guard Service receives armored personnel carriers
4
Army deploying JLENS radar system to help protect Washington, D.C. Army deploying JLENS radar system to help protect Washington, D.C.
5
New GenDyn mission computers for Navy F/A-18s New GenDyn mission computers for Navy F/A-18s
Trending News
Video
x
Feedback