Afren delivers positive update on Ain Sifni Block
Africa-focused oil and gas group Afren has reported positive test results from the Simrit-2 well on the Ain Sifni Block (20%) in the Kurdistan region of Iraq.
Africa-focused oil and gas group Afren has reported positive test results from the Simrit-2 well on the Ain Sifni Block (20%) in the Kurdistan region of Iraq.
The on-going testing programme on the well, which is operated by Hunt Oil Middle East, has delivered incremental flow rates of 5,368 barrels of oil per day (bopd), with a cumulative rate of 18,952 bopd from six of the 12 zones tested.
Osman Shahenshah, Chief Executive of Afren, said: "The latest test results on the Simrit-2 exploration well continue to suggest excellent production capability and the transformational potential of this discovery to Afren.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"The Simrit-3 well is drilling ahead and confirms the eastern extent of the large scale Simrit anticline."
Afren has a 20% interest in the blockm Hunt Oil Middle East 60%, and the Kurdistan regional government owns the remaining 20%.
NR
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
-
Saba Capital and Boaz Weinstein respond to investment trusts
As investment trust managers and industry experts accuse Saba of self-motivated opportunism, the hedge fund responds to specific "misleading claims" and sets out its stall
By Dan McEvoy Published
-
How to find top-quality companies with growing dividends
Ian Mortimer, portfolio manager of Guinness Global Equity Income Fund, shares where he would put his money for sustainable and growing dividends
By Ian Mortimer Published