Project Profile
Value: US$150 million
Location: Sulaymaniyah, Kurdistan
Start-up Year: 2015
A 846 square kilometre Qara Dagh Block in Sulaymaniyah governorate of the Federal Region of Kurdistan. Vast Exploration has a 37% interest in the Qara Dagh Block. Vast Exploration obtained a 27% interest pursuant to a production sharing contract signed in 2008 with the Kurdistan Regional Government and holds an additional 10% interest in the Qara Dagh block subject to the issue of 60,000,000 Vast common shares in accordance with the directions of the Kurdistan Regional Government. A 354 kilometre 2D seismic program was completed in June 2009 and plans have been finalised to spud the first exploration well in March 2010. The block covers 846 square kilometres and has a large linear surface anticline, which is on a similar trend as the existing oil fields in northern Iraq and the more recent discoveries in Kurdistan at TaqTaq and Miran. Data processing and interpretations have been completed and integrated with regional and surface geological models. Three main prospects, which correspond to the three domes on the surface structure, have been confirmed by seismic mapping.
Operators:
Kurdistan Regional Government: 10% interest
Chevron: 90% interest