Genel Energy and Gulf Keystone make new Kurdistan oil discovery
The Genel operated Ber Bahr exploration well was drilled to a depth 3,933 metres and it encountered good oil shows over a 300 metre interval.
Initial testing failed to produce oil flows. However, a sidetrack has now been tested and has produced flows at a rate of 2,100 barrels of oil per day.
"The Ber Bahr well adds a further commercial oil discovery to Genel's already significant KRI resource base,” said Dr John Hurst, Genel’s head of exploration.
“We plan to begin a phased development of the field in the second half of this year."
Meanwhile, speaking from Gulf Keystone’s point of view, GKP chief operating officer John Gerstenlauer said: "This is another significant discovery and the fifth across the four blocks the company has an interest in.
“It comes during an exciting year for the company as we move towards becoming a significant producer in the region."
The two London listed oil firms each own a 40% stake in the Ber Bahr block, while the Kurdistan Regional Government owns the other 20%.
By Jamie Ashcroft
Proactive investers
