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Page added on October 14, 2013
DNO International Says Iraq Field May Have “Sea of Oil”
A new well at DNO International’s Tawke oil field in Iraq is producing more than any of the other wells that have so far been drilled, the Norwegian company said on Monday.
The horizontal Tawke 23 well produced 32,500 barrels of oil per day, beating the 25,000 barrels recently produced at Tawke 20.
“The exceptional results from Tawke-20 and Tawke-23 have fundamentally changed our approach to developing this field and also our expectations for its performance,” DNO’s Executive Chairman Bijan Mossavar-Rahmani said in a statement.
“By any measure, these are prolific wells tapping into what increasingly feels like a sea of oil,” he added.
Situated in Iraq’s Kurdish region, the Tawke field is operated by DNO, which has a 55 percent stake, while Genel Energy holds 25 percent and the Kurdistan Regional Government the remaining 20 percent interest.
6 Comments on "DNO International Says Iraq Field May Have “Sea of Oil”"
J-Gav on Mon, 14th Oct 2013 4:56 pm
I don’t doubt that Iraq has untapped resources. Some think they “may” rival those of Saudi Arabia. This follows the history of oil discovery/extraction by the West in that region of the world. The Saudis got on board fast to be the big cheese (Kuwait, etc following suit) then there was the Iranian story … CIA 1953 overthrow of Mossadeq, you know … They were meant to be resource lackeys but refused to play by our rules (and it remains to be seen how that “may” turn out). Iraq was always scheduled (by the British, Americans and probably French) to be the last “biggie” to exploit. That hasn’t worked out quite as planned either. Imponderables abound. Political stability DOES count in such matters. Oil companies don’t enjoy having their pipelines blown up every week. So again, it’s less a question of ‘what’s in the ground’ than ‘what can be brought to market at an affordable price when the market needs it.”
And of course, ‘part from all that geo-political horseshit, if we do burn through the Middle East’s reserves – we’re all cooked!!!
BillT on Tue, 15th Oct 2013 1:47 am
J-Gav, the race is on. Economic collapse? World war? Climate change? Which will be the cause of the end of civilization as we know it? Or our very extinction?
DC on Tue, 15th Oct 2013 3:32 am
Is a “Sea of Oil” an industry technical term denoting a specific quantity?
Im sure it must be if RigPorn is using it….
J-Gav on Tue, 15th Oct 2013 6:47 am
BillT – It’s neck-and-neck down the homestretch … or maybe we’ll get some combination of the causes you mention.
BillT on Tue, 15th Oct 2013 1:15 pm
J-Gav, I think the horses are rounding the last turn … it’s getting exciting!
luap on Tue, 15th Oct 2013 5:21 pm
when it all kicks off..the last thing it will be is exciting..millions will die..and all in the name of greed and growth..chaos will ensue in every country( sustainability is a buzz word now along with green..too little too late.
hope you are ok there BillT after that earthquake