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Hungarian group sees Iraq oil well success

Baghdad, August 7, 2010

Hungarian oil and gas group MOL said it had conducted successful Jurassic Zone testing on its Shaikan-1 discovery well in the Shaikan Block in Iraq's Kurdistan region.

MOL said on the initial test in 2009, the zone failed to flow oil to the surface, however final production rates during this week's re-testing were 4,650 barrels per day.

MOL holds a 20 per cent stake in the Shaikan block while the field's operator and main owner is Gulf Keystone.-Reuters




Tags: Iraq | MOL | Hungarian oil |

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