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2014-03-18 20:22:00

DNO SETS NEW RECORD

DNO SETS NEW RECORD

EPN. DNO International, the Norwegian oil and gas company, has initiated production from two newly completed horizontal wells in the Tawke field in the Kurdistan region of Iraq at a combined rate of 37,000 barrels per day.

In one of the new wells, Tawke-21, eight productive fracture corridors penetrated by a 980-meter horizontal section in the main Cretaceous reservoir interval flowed an average rate of 9,700 barrels per day each. In the other well, Tawke-22, located six kilometers away, seven productive fracture corridors penetrated by an 800-meter horizontal section flowed an average rate of 8,800 barrels per day each. Both wells are subject to wellbore and surface facilities limitations.

'We hit a new production record of 129,000 barrels per day at the Tawke field on March 5 which is close to the limit of what we currently can deliver by pipeline and road tanker,' said Bijan Mossavar-Rahmani, DNO International's Executive Chairman. 'With the exceptional results from these latest wells and the installation of early production packages and a new 24-inch pipeline, we are on track to meet our ambitious deliverability goal of 200,000 barrels per day in 2014,' he added.

Two previous Tawke horizontal wells came on production in the second half of last year, two wells are currently drilling and three more are scheduled which, together with Tawke-21 and Tawke-22, will bring the total number of horizontal wells in the field to nine by year-end.

Tags: IRAQ, OIL, DNO

Chronicle:

DNO SETS NEW RECORD
November, 15, 15:25:00

OIL PRICE: ABOVE $61 AGAIN

REUTERS - Brent crude futures LCOc1 were down 72 cents at $61.49 per barrel at 1020 GMT, having fallen by 1.5 percent on Tuesday, its largest one-day drop in a month. U.S. West Texas Intermediate (WTI) crude CLc1 was at $55.12 per barrel, down 58 cents.

DNO SETS NEW RECORD
November, 15, 15:20:00

IEA COOLS THE MARKET

BLOOMBERG - Prices dropped during the session as the International Energy Agency said the recent recovery in oil prices, coupled with milder-than-normal winter weather, is slowing demand growth. The worsening outlook for consumption dampened some of the enthusiasm that OPEC and its allies will extend supply curbs.

DNO SETS NEW RECORD
November, 15, 15:15:00

IEA: GLOBAL ENERGY DEMAND UP BY 30%

Global energy needs rise more slowly than in the past but still expand by 30% between today and 2040. This is the equivalent of adding another China and India to today’s global demand.

DNO SETS NEW RECORD
November, 15, 15:10:00

RUSSIA'S OIL EXPORTS UP

Product exports have grown significantly over the past several years and are expected to continue to grow as Russian refineries add capacity to produce more high-quality products.

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