Oil Search stops at Taza

Iraq: Oil Search shuts down

Australia-listed Oil Search has decided to shut down operations at the Taza-2 exploration well due to ongoing turmoil in northern Iraq.

The Taza-2 well is located in the Kurdistan region of Iraq, where ongoing tensions have destabilised the supply chain in the country.

Oil Search recently announced the increase in regional tensions had interrupted the country’s abilities to send in personnel and equipment to the well site.

After consultation with the Kurdistan Ministry for Natural Resources, the company made a decision to temporarily suspend the well until the integrity of the supply chain has been established.

Rigging up at the Taza-3 appraisal well has not been interrupted, while the 3D seismic acquisition programme is also going ahead as planned.

The company said it was watching the situation closely.

Taza-2 is located just north-west of Taza-1 and is appraising the hydrocarbon-bearing intervals discovered in the first well.

Oil Search is the operator of the well with a 60% interest, while Total E&P holds a 20% interest and the Kurdistan Regional Government holds another 20%.

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