Faihaa-3 commences Oil Production

Kuwait Energy has announced the commencement of oil production from the Faihaa-3 well located in the Block 9 concession situated in the Basra Governorate.

The Faihaa-3 well started commercial production on 12 February 2017 at 40/64 inch choke size and has stabilized at a gross daily rate of 5,200 barrels of oil per day (bopd).

The well was spudded on 31 August 2016 and was completed on 11 February 2017. Currently, Kuwait Energy's Working Interest (WI) production in Block 9 stands at approximately 10,000 bopd.

Kuwait Energy holds a 60% interest and is the operator of the Block 9 concession, while Dragon Oil holds 30% and the Egyptian General Petroleum Corporation holds 10%. The Faihaa-3 well is located in the Block 9 concession and is producing from the Yamama formation.

Sara Akbar (pictured), Chief Executive Officer of Kuwait Energy, said:

"Today's announcement demonstrates the continued success of our Block-9 asset in Iraq.  The production rate achieved from the Faihaa-3 well marks another execution milestone in Kuwait Energy's capabilities and further adds value to this significant asset.

"Our continued success in Block 9 could not have been achieved without the unparalleled support from our team, the Iraqi Ministry of Oil, South Oil Company and our partners on the ground in Basra."

(Source: Kuwait Energy)

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