Keystone announces fifth oil discovery in Kurdistan

“The company has discovered encouraging commercial quantities of oil in Bahar well field.

Gristinlor according to Express British newspaper added “The discovery of oil in Bahar well field in Kurdistan region is another important discovery which is the fifth discovery in the four areas that company owns shares in it,” The operations director of the British company, John Gristinlor said in statement briefed by “Shafaq News”.

He pointed out that the company plans to begin implementation of a series of test drilling operations, considering that this discovery came at an important time for the company as it moves to become one of the oil-producing companies in the region.

The two English -Turkish Genel Energy companies and British Keystone possess 40% of the shares in Bahar well field in Kurdistan.

Shikhan field is considered the most important investments in Gulf Keystone in Kurdistan as it aims to reach volume production to 150 thousand barrels per day of oil equivalent by 2015 and achieve full production after that.