Kuwait Energy plc (“Kuwait Energy”) announces that the consortium comprising of Kuwait Energy Company (60%) as the operator, Dragon Oil (30%) and the Egyptian General Petroleum Corporation (10%) has commenced oil production from Faihaa-1 well in Block 9, Iraq.
The Faihaa-1 well is located in Block 9 field, which is situated in the hub of Iraq’s oil industry in the Basra Governorate, in Southern Iraq.
Production has begun from the Faihaa-1 well in the order of 5,000 bpd on 32/64 inch choke.
Sara Akbar, CEO of Kuwait Energy, said:
“We are proud to have begun production in record time after making the discovery last December, which demonstrates the feasibility of executing such a fast track project in world record time in South Iraq.
This would not have been possible without the cooperation and full support of the Iraq Ministry of Oil, the South Oil Company, the Block 9 Joint Management Committee (“JMC”) Chairman and its members, the support of our partners, Dragon Oil and the Egyptian General Petroleum Corporation, and the diligent and determined Kuwait Energy team in Basra and Kuwait.”