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Maersk Oil signs deal for two exploration blocks in the Kurdistan region of Iraq


Published Jan 15, 2014
Map of Iraq

Maersk Oil farming into Piramagrun and Qala Dze Production Sharing Contracts.

The Kurdistan Regional Government has approved Maersk Oil's acquisition of a 40% non-operating interest in the Piramagrun and Qala Dze Production Sharing Contracts from Repsol Oriente Medio S.A.

Repsol will continue to operate exploration activities and also hold a 40% interest. The Kurdistan Regional Government will hold the remaining 20% share of each block.

The Piramagrun and Qala Dze blocks are located approximately 150 kilometres east of Erbil, the regional capital of Kurdistan. During 2012, Repsol undertook a significant 2D seismic acquisition programme which identified a number of drilling targets. In November 2013 work commenced on the Zewe-1 exploration well and drilling in the Qala Dze PSC is expected to begin in the early part of 2014.

Tags: Maersk Oil




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