Saturday, April 23, 2011

Kurdish oil seep (update)

Back in a Jan 2011 blog entry I showed a great oil seep outcrop photo and referred there to the Atrush-1 well then being drilled nearby. It was recently announced the well came in with initial production potential (IP) of about 6400 barrels per day of 26.5 gravity oil.

Also of note, it looks like an oil export agreement might be back in place to actually allow oil production from the Kurdistan region of Iraq. Squabbling between the Kurdish regional government and the central government in Bagdad had stopped exports for a while, the main hang-ups being revenue sharing and which government entity gets the initial money and makes the split.

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