DNO, Genel Energy hail success in Iraq

March 21, 2012 at 8:01 AM
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OSLO, Norway, March 21 (UPI) -- Testing of an oil well in the Kurdish region of Iraq shows it's likely the most prolific well ever drilled by Norway's DNO International, an executive said.

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.

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