Hungary's MOL completes initial drilling tests in Iraqi prospects.

By bne IntelliNews January 24, 2012
Hungary's oil and gas company MOL announced the results from the initial testing phase in Shaikan Block oil field in Iraq, the company said in a press statement. The Shaikan-4 appraisal well achieved 4,970 barrels of oil per day (bopd). MOL also said it spudded another appraisal well in the Akri-Bijeel Block. MOL holds through its wholly-owned subsidiary Kalegran an 80% interest in Akri-Bijeel block and a 20% share in Shaikan Block. The potential of the field is estimated at 8bn to 13.4bn barrels, according to estimates by MOLs UK partner company Gulf Keystone Petroleum.

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