Encouraging oil findings in Kuhlan [Archives:2005/840/Business & Economy]

archive
May 9 2005

Canadian petroleum company DNO has announced lately that it has conducted productive tests on oil resources of Kuhlan oil well situated in Ajja-5 well basin. Preliminary results of the well components have disclosed the possibility of drawing 3862 barrel of oil per day and 4.940 thousand cubic feet of natural gas per day, in addition to 1.430 thousand barrels of water, per day.

A statement by the company published on its website mentioned that tests indicated the existence of strong hyrocarbonaceous compounds at a level of 42 meters within the oil reserve of the well. The statement also pointed out that the company had the intention to conduct electronic tests, in addition to the well, to be sure of its reserve oil deposit. The statement also indicated that that the first phase of the works for developing oil wells of al-Baraja oil field was expected to be finished by the end of next June and the aim of that phase is to raise present production of the field from 5000 bpd to around 15000 bpd in August.
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