Genel Energy, the oil and gas giant led by former-BP frontman Tony Hayward, has said the Chia Surkh 10 exploration well, the first to be drilled on the Chia Surkh block, started drilling on Sunday, October 7th.
The block, in which Genel holds a 60% operating interest, covers an area of 984 square kilometres in the southern part of the Kurdistan Region of Iraq and has prospective resources estimated at more than 300m barrels of oil equivalent.
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
-
House prices rising fastest in areas with highest crime rates – where does your area rank?Property prices are higher in safer areas but growing more slowly than in places benefiting from gentrification and buy-to-lets
-
State pension age review launched – could it rise faster in future?The government has announced a review of the state pension age, after it warned of a “retirement crisis” and revived the Pensions Commission to boost pension savings
