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February 17, 2015

ShaMaran reports oil flow from Atrush-3 well in Iraq

ShaMaran Petroleum has reported oil flow from the Atrush-3 (AT-3) well in the eastern part of the Atrush structure in the Kurdistan region of Iraq.

ShaMaran Petroleum has reported oil flow from the Atrush-3 (AT-3) well in the eastern part of the Atrush structure in the Kurdistan region of Iraq.

The drilling rig was moved to the AT-3 well location after the testing of the Chiya Khere-6 (CK-6) phase 2 area appraisal well unveiled in January 2015.

The drilling restarted in order to complete the well testing programme unveiled in August 2013.

"The AT-3 well test results now confirm the CK-6 results and demonstrate high-productivity in the eastern part of Atrush and good communication across the field."

A single commingled interval via two sets of 12m perforations flowed with a maximum oil rate of 4,900 barrels of oil per day (bopd).

The company said in the testing of both AT-3 and CK-6, pressure gauges monitoring interference in the Atrush-2 well demonstrated that the second phase appraisal area is in pressure communication with the phase one development area.

Full analysis of both CK-6 and AT-3 well testing results is ongoing.

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ShaMaran president and CEO Chris Bruijnzeels said: "The AT-3 well test results now confirm the CK-6 results and demonstrate high-productivity in the eastern part of Atrush and good communication across the field. I am confident that these excellent results will help us to create value from our contingent resources."

TAQA Atrush operates and holds a 39.9% stake in the Atrush block. ShaMaran Petroleum, via its subsidiary General Exploration Partners, owns a 20.1% interest.

Marathon Oil KDV and the Kurdistan regional government own 15% and 25% stakes, respectively.

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