DNO finds oil in north Iraq well (Kurdish region)

[sabra]

http://www.tradearabia.com/tanews/newsdetails_snOGN_article98240.html

DNO finds oil in north Iraq well


Norwegian oil group DNO has struck oil in a well in the Kurdish area of northern Iraq, the company said.

It said that the Tawke number 1 well, spudded on November 28, had found oil in a first prospective reservoir at a depth of 350 metres. It said that the oil was similar to oil found in other similar reservoirs in Northern Iraq.

'The forward plan is to continue drilling the full reservoir section, which could be up to 800 metres thick according to the prognosis,' it said.

DNO is operator of the production sharing agreement with a 40 percent stake. It did not give details of the other holdings. -Reuters