By John Lee.
The Missan Oil Company (MOC) has announced the completion of the exploratory oil well in the Deema-1 [Dima-1] formation.
Oil Minister Abdul Kareem Luaibi [Elaibi] said that the Deema oil field, which is located in Maysan governorate, was completed 100 percent successfully, and in a record time, without any problems by the MOC and the Iraqi Drilling Company (IDC), using the rig "Oil Well/21".
The Minister said a giant reserve of light oil (API=31-33) was found in depth of 150 meters.
The MOC paid IDC $13,940,700 for drilling, hardware and operations, in addition to IQD 4,233,618,750 for the oil rig operation. And the project took 210 days to completion, which is considered a record time.
(Source: Ministry of Oil)