MOL Group Declares Commercial Discovery in Akri-Bijeel Block

MOL Group Declares Commercial Discovery in Akri-Bijeel Block

Kalegran Ltd., a 100% subsidiary of MOL, officially declared the Akri- Bijeel Block in Kurdistan Region of Iraq commercial. The declaration is based on the discoveries made by Bijell-1 well in Jurassic horizons and Bakrman-1 well in Triassic horizon.

Following MOL Group’s announced discovery in the Bakrman-1 exploration well in February, a longer term, 24 days production test was concluded from 25 July until 26 August 2013. Test results confirmed light oil and sour gas saturation with maximal oil production level around 3,192 bbl/d and 1,019 boepd of gas. The well test confirms long term production sustainability. At current stage MOL plans to drill two appraisal wells and deploy an Early Production Facility already in 2015 in order to commence early oil production. Further wells in the Work Program target Jurassic reservoirs as well, currently as an upside potential.

Kalegran Ltd. and its partners are going on with the Appraisal Work Program of the Bijell Field. The construction and commissioning of the Bijell Extended Well Test surface facility was finished on the Bijell-1 site with a total gross capacity of 10,000 boepd. Early oil production could be resumed from Bijell-1B in Q1 2014. Expected Early Production Facility plateau of 10,000 bbl of oil could be achieved by the end of 2014 through the tie in of three additional wells (Bijell-2, Bijell-4 and Bijell-6).

“MOL is pleased to announce commerciality on the Akri-Bijeel block after recent successful long term tests in our Bakrman discovery – said Alexander Dodds, Executive Vice President, Exploration & Production.“ Meanwhile, in the Bijell area MOL identified the potential to accelerate the work program and increase the number of rigs in order to finalize the appraisal activity as soon as possible and maximize Extended Well Test production during 2014. This declaration is another milestone in the fruitful relationship with Kurdish Regional Government which covers not only the lucrative cooperation in the oil and gas industry, but also a wider area in supporting the development of local communities.”

Source: mol.hu

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