Tag Archive | "Talisman"

Talisman Books Loss on Kurdistan Block

By John Lee.

Talisman Energy, the Canadian producer being acquired by Spain’s Repsol, has fully impaired its investment in Block K44 in the Kurdistan region of Iraq by $234 million, after determining that future investment in a capital constrained environment was unlikely.

The company has an interest in two blocks, Kurdamir and Topkhana, covering in excess of 119,000 acres (net to Talisman), and is currently exploring options to dilute its ownership in the Kurdistan Region of Iraq.

(Sources: Talisman Energy)

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Talisman Energy Updates on Topkhana

By John Lee.

In its third-quarter results on Tuesday, Talisman Energy gave the following update on its operations in Iraq:

In the Topkhana Block, the extensive well testing of the T-2 well has been completed. The results were consistent with the results of the long-term K-2 well test, in terms of fluid rates and composition, and indicates an oil interval based on pressure data. Further drilling is required to understand this complex reservoir.

During the quarter, the company declared commerciality and filed a development plan for the Kurdamir license in the Kurdistan Region of Iraq. The Kurdistan Regional Government (KRG) has requested revisions to the development plan, which will require further negotiations between the Kurdamir partners and the KRG within the contractual framework set out in the production sharing contract.

(Source: Talisman Energy)

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Talisman to Sell Kurdamir Stake

By John Lee.

Talisman Energy has said that it still plans to sell its oil properties in Iraqi Kurdistan, despite the recent declaration that its Kurdamir Block was commerical.

Reuters reports that the Calgary-based company plans to look for buyers for its Kurdistan assets as it continues restructuring to cut debt and boost its flagging shares.

Kyle Glennie, a spokesman for Talisman, said:

The (discovery declaration) is really just a procedural step. It gives us a bit of optionality … Really, we’re of the same mindset and the same strategy.”

Talisman also owns the Topkhana property in Kurdistan and is evaluating the results of a well drilled there.

(Source: Reuters)

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Kurdamir Block Declared Commercial

By John Lee.

WesternZagros Resources and its co-venturer, Talisman, have submitted a Declaration of Commercial Discovery (“DoC”) to the Kurdistan Regional Government (“KRG”) for the oil and gas discovery in the Kurdamir Block.

A phased development plan, outlining future production wells, facilities and supporting infrastructure, is under preparation for submission to the KRG.

Simon Hatfield (pictured), WesternZagros Chief Executive Officer, said:

This is a long anticipated, important milestone for WesternZagros as well as the Kurdistan Region. We estimate the Kurdamir block to hold nearly 1 billion barrels of oil equivalent (BOE) of contingent resources on a mean basis.

“In addition, the three stacked reservoirs in Kurdamir hold significant upside potential, of an additional estimated 1.6 billion BOE of prospective resources on a mean basis.

“Declaring Kurdamir as a commercial discovery is another key step as we continue our evolution from an explorer to a producer and towards generating cash flow.”

Future expansion phases will be determined by the success of the first phase of the development drilling campaign. The co-venturers are advancing plans for the first horizontal development well with an anticipated spud date in Q4 2014, subject to KRG approval.

The DoC submission was accompanied by an Appraisal Report, which reflects the work conducted during an exploration and appraisal program on the Kurdamir field that began in 2009 and concluded in May 2014. The program consisted of acquiring 2D and 3D seismic, drilling three exploration wells, performing numerous formation tests and carrying out an extended well test (“EWT”). Positive results from the Kurdamir-2 EWT were a key component in advancing the DoC.

WesternZagros currently holds a 40 percent working interest in the Kurdamir Block. Talisman holds a 40 percent working interest and is the operator, while the KRG holds the remaining 20 percent.

(Source: WesternZagros)

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Talisman Energy Updates in Kurdistan Operations

By John Lee.

As port of its operating and unaudited financial results for the second quarter of 2014, Talisman Energy Inc. (TSX:TLM) (NYSE:TLM) has given the following update on its operations in Iraqi Kurdistan:

In the Topkhana Block, testing continues on the T-2 well and is expected to be complete in the coming days.

“In the Kurdamir Block, Talisman continues to evaluate next steps after the completion of the K-2 extended well test.

(Source: Talisman Energy)

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Talisman Testing Kurdamir-3 Well

A unit of Talisman Energy Inc., Calgary, has begun a cased-hole test program of the Oligocene reservoir at the Kurdamir-3 well on the Kurdamir block in the Kurdistan Region of Iraq.

Talisman (Block K44) BV drilled the well to 2,895 m about 5 km southwest and downdip of the Kurdamir-2 well in what the block coventurers interpret to be a thicker portion of the Oligocene reservoir. The Kurdamir-3 well penetrated the oil column without encountering the gas cap, said partner WesternZagros Resources Ltd., Calgary.

Talisman recorded oil shows and supportive log data indicative of oil over the majority of the Kurdamir-3 Oligocene section penetrated. The Oligocene comprises a gross interval of 372 m of naturally fractured marlstones and dolomitic limestones including an interpreted 194 m of porous reservoir interval.

By comparison, the Kurdamir-2 well penetrated a gross interval of 300 m of which 140 m comprises the Oligocene porous interval. Coring and wireline logging operations have ended, and the wellbore is cased with a 7-in. production liner in preparation for testing. No evidence of formation water has been detected.

In the first well test at Kurdamir-3, Talisman will perforate the deepest interval between 2,776 and 2,788 m. Based on initial logging results, WesternZagros believes that the lowest known oil could extend 150 m deeper than that proven in Kurdamir-2.

The test program will then move uphole to focus on testing the potential of the porous reservoir section. WesternZagros expects to complete the Oligocene testing program in the second half of August.

Meanwhile, the 184 sq km Kurdamir block 3D seismic survey has been completed in order to define more clearly the areal extent of the Oligocene, Eocene, and Cretaceous reservoirs. Following the completion of seismic operations on Talisman’s neighboring block, the seismic crew will shoot a 3D survey on the northern part of the Garmian block in August.

The North Garmian survey will cover 258 sq km to define more clearly the areal extent of the Oligocene reservoirs. The North Garmian and Kurdamir 3D surveys will be combined to provide contiguous seismic coverage in order to determine whether the Oligocene reservoir is connected as one large structure across the two blocks. The data will be used to decide on future appraisal and development well locations and to refine resource assessments.

Elsewhere on the Garmian block, a crew is rigging up to drill the Baram-1 well with an anticipated spud date in the first half of August. Baram-1 will explore the potential extension of the oil leg discovered in the Oligocene reservoir of the Kurdamir structure onto the northern part of the Garmian block. Drilling time is 5 months to planned total depth of 3,800 m.

WesternZagros said Baram-1 “is the highest impact well of the 2013 drilling program and has the potential to add gross unrisked mean contingent resources of up to 200 million to 300 million bbl of oil equivalent in the Garmian block and, if the structure is shown to extend onto the existing Kurdamir discovery, an additional 500 to 600 MMboe in the Kurdamir block.”

Also on Garmian, the Hasira-1 appraisal and exploratory well is drilling ahead at 1,860 m after setting 20-in. casing at 1,014 m. The next casing point is at 2,050 m. Setting the third intermediate string of casing is planned for 3,900 m, just above the Jeribe reservoir, before drilling to a planned total depth of 4,100 m in the Oligocene reservoir.

WesternZagros plans to complete the well either in the Jeribe or the Oligocene reservoir depending on drilling and test results. Drilling time is estimated at 7 months.

Also on Garmian, WesternZagros drilled two of the planned three wells in the Upper Bakhtiari formation. This shallow, inexpensive well program recovered formation water and oil and gas at subcommercial rates. The wells have been suspended, the third well canceled, and the rig released.

The Upper Bakhtiari program was exploring low-cost oil production potential in the South Garmian area but was not viewed as a high-potential program to add greatly to the Company’s resource estimates.

(Source: Oil & Gas Journal)

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List of Oil Companies in Kurdistan

Erbil Governorate has compiled and published a list of the top oil companies in Kurdistan [Note: This list was originally compiled and published by Marcopolis – Ed.].

Please click here to see a list of oil companies with licences granted by the Ministry of Oil in Baghdad.

[NEW: An updated list can now be found by clicking here – Ed.]

Listing them by country:


  • Exxon Mobil
  • Chevron
  • Aspect Energy
  • Marathon Oil Corporation
  • Hillwood International Energy
  • Hunt Oil
  • Prime Oil
  • Murphy Oil
  • Hess Corporation
  • HKN Energy
  • Viking International


  • Forbes and Manhattan
  • Western Zagros Resources
  • Talisman Energy Inc
  • NIKO Resources
  • Ground Star
  • Shamaran

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WesternZagros Spuds Kurdamir-3

WesternZagros Resources has spudded the latest well of its extensive exploration and appraisal program in the Kurdistan Region of Iraq.

Drilling began on the Kurdamir-3 appraisal well on the Kurdamir Block on February 22, 2013. 3D seismic surveys are also underway on both the Kurdamir and Garmian Blocks, and preparations are progressing for the three wells on the Garmian Block planned for 2013.

Simon Hatfield (pictured), CEO of WesternZagros commented:

2013 promises to be an exciting, transformational year for the Company. We are actively delineating our two major discoveries at Sarqala and Kurdamir and also pursuing high-impact step-out exploration on our Baram and Hasira prospects.

KURDAMIR BLOCK (Operated by Talisman (Block K44) B.V.)

Kurdamir-3 Appraisal Well

Drilling operations have begun at the Kurdamir-3 appraisal well on the giant Kurdamir Discovery. The well was spudded on February 22, 2013. The well is expected to take approximately four months to reach the planned total depth of 2,800 metres. The Company expects the gross costs of drilling and testing operations to be $50 million.

The Kurdamir-3 well is being drilled on the southwest flank of the Kurdamir structure approximately three kilometers and five kilometers from the Company’s Kurdamir-1 and Kurdamir-2 discovery wells respectively. Kurdamir-3 will further appraise the extent of the oil leg in the Oligocene interval previously encountered in the Kurdamir 1 and 2 wells.

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