ERBIL, Iraq, April 18 (UPI) -- Talks with the Kurdish government in Iraq could lead to quick development of the Miran field in the north of the country, Heritage Oil announced.
Heritage said it signed a contract with China's Daqing International to supply a rig to start exploration and appraisal drilling on the Miran block.
The company said activity in the Miran block as well as other drilling in Iraqi Kurdistan suggests reservoirs will support production rates of about 10,000 barrels of oil per day.
Heritage announced in January that it estimated there was at least 12 trillion cubic feet of gas and 53 million-75 million barrels of oil associated with its Miran structure in northern Iraq.
Iraq is still without a federal law governing the oil and gas sector in the country, however.
Heritage Chief Executive Officer Tony Buckingham said initial discussions with the Kurdistan Regional Government on Miran were "very constructive" noting they could lead to quick development of the field.
"The signing of the multi-well rig contact and expansion of the seismic programs demonstrates our commitment to exploring and developing the Miran field," he said in a statement.
