Kuwait Energy (“the Company”) today announced that the consortium comprised of Kuwait Energy (70% and operator) and Dragon Oil (30%) has made its second oil discovery at ‘Block 9’ in 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.
Preliminary tests of the Faihaa-1 Yamama formation resulted in oil flow rates of circa 5,000 and 8,000 barrels of oil per day (BOPD) of 35 API crude on 32″/64″ and 64″/64″ chokes respectively.
The consortium will conduct more detailed testing on Yamama towards the end of the year.
Sara Akbar, CEO of Kuwait Energy, said, “This is the second discovery in the first well drilled in Block 9, so we are delighted to have accomplished additional progress. We are confident that Block 9 has strong exploration potential.”
For further information, please contact:
Bensirri Public Relations (Kuwait)
+965 9998 1334