Heritage Oil contracts rig to drill well in the Kurdistan region of Iraq
Heritage Oil Limited (LSE: HOIL), an independent
upstream exploration and production company, announces that it has contracted Great Wall Drilling Company Ltd. to supply a rig to drill the Miran West-1 exploration well in the Kurdistan Region of Iraq.
Highlights
- Rig secured to commence drilling the Miran West-1 exploration well
- First ever well to be drilled on the Miran licence in the Kurdistan Region of Iraq
- Rig is currently in-country, and the well is expected to spud before the year-end
- High-impact exploration as the potential for billions of barrels of oil exists in the licence
Heritage has entered into an agreement with Great Wall Drilling Company Ltd. to use the GW Rig No.10. It is planned that the rig will drill to an
anticipated depth of over 3,000 metres and target the three principal reservoirs known from the immediate area to be the most productive.
Drilling of the well is expected to commence before the year-end as the rig is already in-country and site preparation is underway.
The Miran licence contains two large structures, Miran West and Miran East, that have been mapped from the 332 kilometres of excellent quality
seismic data acquired by Heritage between April and June 2008. These two very large anticlines have the potential to contain billions of barrels of oil...
Full story: http://www.newswire.ca/en/releases/archive/October2008/30/c3030.html
