Oryx Resumes Kurdistan Operations

By John Lee.

Oryx Petroleum has announced an update for its operations in the Hawler license area of the Kurdistan Region of Iraq.

Commenting today, Oryx Petroleum´s Chief Executive Officer, Michael Ebsary (pictured), stated:

“We are very pleased that tangible improvements to the security environment in the Kurdistan Region have enabled us to resume all activities at our core asset, the Demir Dagh field. The resumption of production at higher levels after only a short interruption is very positive and, while the interruption will result in delays in our development schedule, we hope to minimise those and continue our rapid ramp-up in production.

"Appraisal activities at our Ain Al Safra and Banan discoveries remain suspended pending further improvement in the security environment in the westernmost portions of the Hawler license area. Preparations for drilling at Zey Gawra continue but timing of actual drilling is not yet certain.

"We are encouraged by the response of the Kurdistan Region and Iraq authorities, together with the support of the international community, to the conflict in northern Iraq. We continue to closely monitor the situation in close co-ordination with authorities in the Kurdistan Region and continue to take measures needed to ensure the safety of our personnel and operations.”

Demir Dagh

Oryx Petroleum recently resumed crude oil production and sales into the domestic market at the Demir Dagh field in the Hawler license area at rates in excess of those prior to the temporary halt in August. Production and sales have averaged approximately 4,300 barrels per day over the past 10 days with daily volumes achieved in recent days of over 5,000 barrels. Payments for sales have also resumed.

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