Kuwait Energy, an independent oil and gas exploration and production company, has announced that a consortium comprising Kuwait Energy and Dragon Oil has made its first oil discovery at Block 9, Iraq.

The discovery was at the consortium's first target, the Mishrif formation at 2,700 meters, in its Block 9 exploration well, ‘Faihaa-1’, located in Northern Basra, Iraq.

Preliminary tests of the Faihaa-1 Mishrif formation resulted in a flow rate of circa 2,000 bpd (barrels per day) of 20 API oil on 32/64-inch choke.  The consortium will conduct more detailed testing on Mishrif towards the end of the year, a company statement said.

The consortium's strategy is to continue drilling activities, exploring deeper horizons and collecting further data, to fully evaluate the discovery and to define an appraisal plan, explained Sara Akbar, CEO of Kuwait Energy.

“This is the first well drilled in our planned high-impact exploration campaign on Block 9, so we are delighted to have made a discovery so quickly. We continue to believe that Block 9 has strong exploration potential and look forward to facilitating an appraisal plan on Faihaa-1 and continuing to drill other exploration targets,” she added. – TradeArabia News Service