Heritage Oil said it has successfully tested the Miran West-3 well in the Kurdistan Region of Iraq and encountered wet gas at a flow rate of 22 million cubic feet per day.
The Miran West-3 well confirmed the primary gas bearing reservoir interval in the Jurassic gas reservoir after drilling to a total depth of 3,528m.
The well is estimated to be capable of producing 50 million cubic feet per day of wet gas and 1,000 barrels of oil per day condensate when in service.
Heritage Oil chief executive officer Tony Buckingham said, "The active work programme in Kurdistan continues with the drilling of the Miran East-1 well and the Miran West-4 oil appraisal well expected to spud later this quarter," he added.
Oil shows encountered in the Miran East-1 well, which is currently at a depth of 2,020m, are consistent with wireline log interpretation, indicating the presence of hydrocarbons.
Drilling of the Miran East-1 well in the upper cretaceous resevoir interval will take a further five months for completion.
Acquisition of 3D seismic, covering 730km2 across the Miran Block, is now available and initial interpretation of the data has been completed.
Early development of the Miran Field is planned by the end of 2013, targeting 80 million cubic feet per day to 180 million cubic feet per day of gas for local supplies, and 10,000 barrels per day to 15,000 barrels per day of oil and condensate.
Full field development will comprise an integrated development of the oil, gas and condensate, with gas exports to Turkey beginning in 2015.
Heritage Oil holds a 75% interest in the Miran Block and Genel Energy has the remaining 25% stake.