Project Profile
Value: Undisclosed
Location: 150 kilometres east of Erbil, Kurdistan region of Iraq
Area: 2,753 km2
Start-up Year: -
Two exploration blocks Piramagrun and Qala Dze under the production sharing contract (PSC), were signed in July 2011. The blocks cover a 2,753 km2 total surface area. They are in mountainous terrain where to date no wells have been drilled or seismic reports produced. Maersk Oil, a unit of oil and shipping group A.P. Moller-Maersk, has received Kurdistan Regional Government (KRG) approval to buy 40 percent stakes in two exploration blocks from Repsol Oriente Medio S.A. Repsol will continue to operate exploration activities and also hold 40% interests in them. The Kurdistan Regional Government will hold the remaining 20% stakes in each block. The two blocks, Piramagrun and Qala Dze, are located about 150 kilometres east of Erbil, the capital of the Kurdistan region of Iraq. Blocks are used to describe areas with potential for oil or gas production. In 2012, Repsol undertook a significant 2D seismic acquisition programme which identified a number of drilling targets. Crude from Kurdistan used to be shipped to Turkey through a pipeline controlled by Baghdad, but those exports dried up a year ago due to a row over payments for oil companies operating in the region.
Operators:
Repsol Oriente Medio S.A.: Operator with 40% interest
Maersk Oil: 40% interest
Kurdistan Regional Government: 20% interest