OTHER IRAQI OPERATIONS

We were awarded the $197m Subba & Luhais development contract as well as Technical Study Projects on the Merjan and Dhufriya oil fields. Petrel holds an interest in the former Block 6 in the Western Desert. We are also pursuing direct negotiations for small fields.

Merjan: Completed 2008

Subba & Luhais: Sold Out in 2011

  • Awarded a $197 million contract in 2004.
  • The development built surface facilities to boost oil production from under 50,000 b/d to over 200,000 b/d.
  • Petrel sold their 50% stake to a local company for $7million.

Old Block 6: 2002 Petrel was awarded Block 6 in the Western Desert subject to ratification

  • The former Block 6 is located in the relatively unexplored Paleozoic Basin of Western Iraq. It covers 10,000sq km.
  • There is 3,400km of seismic but no wells. The potential is a multi-billion barrel oil and gas field.
  • Petrel have analysed all available data and are ready to drill.
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