By John Lee.
Iraq's Ministry of Oil has issued an update on the new hydrocarbon discovery at the Qurnain exploration block in Najaf province,
Spokesman Salim al-Rakabi told state-run Iraqi News Agency (INA) that the first exploratory well yielded promising indications of light crude oil, adding that the assessment programme has begun, with the first of three planned appraisal wells now being drilled.
Al-Rakabi said that 2D seismic surveys have been completed and that processing and interpretation of both old and new seismic data are ongoing in preparation for subsequent phases. He added that reserve volumes, targeted production capacity, and final investment figures for Zhenhua Oil (EBS Petroleum) cannot be disclosed at this stage, as the project remains in the exploration appraisal phase and has not yet entered commercial development or production.
Recoverable reserves and a full development plan will be confirmed following completion of the appraisal programme and submission of a certified technical report. The future development phase is expected to include production and development wells, as well as facilities for oil and gas processing and transportation. Al-Rakabi said a successful outcome would strengthen Iraq's national light crude reserves, increase future production, and support associated gas utilisation.
The discovery was originally announced in May.
(Source: Iraqi News Agency)
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