By John Lee. Kuwait Energy has announced the commencement of production from the Faihaa-2 well in the Block 9 concession. in Basra Governorate. The Faihaa 2 well was spudded on 3 January 2016, with production testing commencing on 23 September 2016 at 52/64 inch choke size at an initial rate of 9,583 barrels of oil […]
By John Lee. Kuwait Energy has announced the signing of an Export Oil Sales Agreement for its Block 9 project in Iraq. The agreement, signed between a consortium led by Kuwait Energy plc and Iraq's State Oil Marketing Organization (SOMO) puts in place the mechanism by which Kuwait Energy will be paid for services in […]
Kuwait Energy has announced that the consortium comprising of Kuwait Energy (60%) as the operator, Dragon Oil (30%) and the Egyptian General Petroleum Corporation (10%) has commenced oil production from Faihaa-1 well in Block 9, Iraq. The Faihaa-1 well is located in Block 9 field, which is situated in the hub of Iraq’s oil industry […]
By John Lee. In a statement to the markets this morning, Dragon Oil gave the following update on its operations at Block 9 in Iraq: "In 2014, the partners in Block 9 in Iraq (Dragon Oil 30%) announced the discovery of oil in two formations in the consortium's first exploration well, Faihaa-1. "Open and cased […]
By John Lee. In its Interim Management Statement this morning, Dragon Oil gave the following update on its operations at Block 9 in Iraq: "In 2014, the partners in Block 9 in Iraq, announced the discovery of oil in two formations in the consortium's first exploration well, Faihaa-1 in which Dragon Oil holds 30 percent. […]
By John Lee. Kuwait Energy and Egyptian General Petroleum Corporation (EGPC), the national oil company of Egypt, have jointly announced the signing of an agreement whereby EGPC has farmed in a 10 percent participating interest in the Block 9 license. The Block 9 field is located in the Basra Governorate, in Southern Iraq. The signing […]
By John Lee. In its 2014 Full-Year Results, Dragon Oil gave the following update on its operations in Iraqi Kurdistan: On 10 September 2014, the partners in Block 9 in Iraq, Dragon Oil (30%) and Kuwait Energy (70% and operator), announced their first oil discovery at the consortium's first target, the Mishrif formation, reached at […]
By John Lee. Shares in Petroceltic plc were trading up nearly 4 percent on Tuesday, following a positive note from a London-based broker. Peel Hunt analyst James Carmichael claims that near-term drilling in Iraqi Kurdistan could significantly increase Petroceltic’s resource base. Proactiveinvestors says the broker has a ‘buy’ recommendation and a 202p price target for […]
By John Lee. In its Trading Statement this morning, Dragon Oil issued the following update on its operations in Iraqi Kurdistan: "On 10 September 2014, the partners in Block 9 in Iraq, Dragon Oil (30%) and Kuwait Energy (70% and operator), announced their first oil discovery at the consortium's first target, the Mishrif formation, reached […]
By John Lee. As part of its Drilling and Production Update this morning, Dragon Oil made the following statement about its operations in Iraq: In December 2014, the consortium of Dragon Oil (30%) and Kuwait Energy (70% and operator) reported their second oil reservoir discovery at Block 9 in Iraq. The successful discovery was at […]
Kuwait Energy has announced that the consortium comprised of Kuwait Energy (70% and operator) and Dragon Oil (30%) has made its second oil discovery at 'Block 9', Iraq. The successful discovery was at the consortium's second target, the Yamama formation at 4,000 meters, in its Block 9 exploration well, ‘Faihaa-1’, located in Northern Basra, Iraq. […]
By John Lee. Dragon Oil said on Monday that it was backing out of plans to make an offer of 230 pence a share for Irish operator Petroceltic, which has interests in Iraqi Kurdistan. Shares in Petroceltic closed down 35 percent at 112.45 pence on Monday, 50 percent below their recent peak. Chief Executive Brian […]
