Norwegian oil and gas company DNO International ASA’s (OSE: DNO) Managing Director Helge Eide gave a presentation at the Annual General Meeting this morning. Latest results from Peshkabir-1 well in the Kurdistan region of Iraq have confirmed presence of movable oil in the Jurassic interval. The company is doing further tests. There has also been water flow and further cleanup is required.
Previous Peshkabir-1 tests produced water at two Triassic intervals and one of three Cretaceous intervals. The company is now considering additional test in the Cretaceous as well. DNO is one of the first E&P entrants in Kurdistan and its location has access to main export pipeline. The company has a particularly active drilling campaign at the Tawke field, which it views as a world class asset.
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