A third well, the Tawke-14 well is drilling ahead of schedule at over 1,800 meters. The well is located within the northern flank of the field and is another of the planned 2012 wells designed to confirm and delineate the potential of the Cretaceous in an untested up-structure location. The well is expected to reach a total depth of 2,665 meters in the second quarter of 2012.
"We continue on track to establish 100,000 barrels per day of deliverability from the Tawke license before year end," said Bijan Mossavar-Rahmani, DNO International's Executive Chairman. "And we remain confident that in time we will be in a position to place more and more of this oil in both regional and international markets."
DNO International is operator of the Tawke field with a 55 percent working interest, with Genel Energy holding a 25 percent working interest and the Kurdistan Regional Government a 20 percent working interest.
Elsewhere, in Oman Block 8 the West Bukha-5 development well has been drilled to a depth of 4,213 meters, approximately 200 meters above the top of the target Thamama reservoir. The Company's forward plan is to drill into the top of the target reservoir, install a 7-inch liner and drill a 600-meter horizontal section in the Thamama.
The Company's combined working interest production has increased following the merger with RAK Petroleum PCL's Middle East and North Africa assets in January 2012 and is expected to reach 40,800 barrels of oil equivalent per day (boepd) in the first quarter of 2012, up from 34,600 boepd in the fourth quarter of 2011.
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