Chevron drills oil well in Iraqi Kurdish area after two-year gap: sources

21 Sep 2017   Iraq, USA

U.S. firm Chevron drilled its first exploration well this month in Iraqi Kurdistan after a two-year break, industry sources said, signaling its confidence in the area despite an international row over region’s independence referendum plan. Chevron, the second-largest U.S. oil and gas company, drilled the well in Sarta block, north of the regional capital Erbil, the first such well since the second half of 2015, two industry sources told Reuters. “Chevron continues its exploration activities in the Kurdistan Region of Iraq,” a Chevron spokeswoman said, without elaborating. Chevron holds an 80 percent interest in the Sarta and Qara Dagh blocks, which cover a combined area of 279,000 acres (1,129 sq km), according to its 2016 annual report. It does not currently have any production […]

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