Project Profile
Value: US$1 billion
Location: Kurdistan Region, Iraq
Area: 1,015 square kilometres
Reserves: 1 billion barrels of oil and 12.3 TCF of gas
Start-up Year: 2013
The Miran Block Project, in the southwest of the Kurdistan Region of Iraq, was originally included a 20,000 b/d oil refinery in the vicinity of hte licence area. However, In May 2009, Heritage Oil terminated the commitment to build the mini-refinery in the vicinity of the licence area. Heritage Oil has however executed a Production Sharing Contract with the Kurdistan Regional Government (KRG) over Miran Block that Heritage will be operating as a 50/50 partner with the KRG. The licence area is 1,015 square kilometres and includes the Miran structure. This structure constitutes an area of approximately 500 square kilometres and appears to have three separate culminations. Reservoir potential exists at numerous zones that are estimated could contain in excess of 1 billion barrels of oil and 12.3 TCF of gas.
Operator:
Heritage Oil plc.: Operator with 49% interest
Kurdistan Regional Government (KRG)
Genel Enerji: 51% interest
Contractor:
DaQing International: Drilling contractor