Oslo-listed DNO International believes that its Tawke oil field in Iraqi Kurdistan may be the region’s first 1bn barrel field in light of the results of two horizontal wells drilled into the structure. It sees a potential to take production beyond an initially targeted 200,000 b/d by the end of 2014 (from 100,000 b/d now) as it taps into the upper and lower reservoirs of the structure.
Announcing third quarter results last week, executive chairman Bijan Mossavar-Rahmani told analysts that the company had achieved record-breaking working interest production of 53,000 boe/d in Q3, up by over a third over the previous quarter, thanks largely to rising Takwe output. (CONTINUED - 410 WORDS)
