OMV: Further important milestones in the Kurdistan Region of Iraq
Production of a test well at the Bina Bawi field in the autonomous region has begun at an initial 5,000 barrels per day (bpd), the company announced April 4.
"OMV sees the Kurdistan region of Iraq as an important area for growth," said Jaap Huijskes, the member of the board responsible for exploration and production. "The progress of the development of Bina Bawi [is an] important milestone to further expand our business in this region."
OMV shares production rights to the Bina Bawi field with Genel Energy and the KRG. OMV already produces natural gas in Kurdish Iraq as part of a joint venture that includes the Sharjah-based Dana Gas.
Jaap Huijskes, OMV Executive Board Member responsible for Exploration and Production: "We are very pleased with this result. The progress of the development of Bina Bawi as well as the Declaration of Commerciality are important milestones to further expand our business in this region. In accordance with our partners, Genel and KRG, we will continue our work to fully appraise the potential of this promising field. OMV sees the Kurdistan Region of Iraq as an important area for growth and the progress on the Bina Bawi field underlines our ability to execute our strategy."
