Operations
WesternZagros is one of a number of oil and gas companies/consortia active in the Kurdistan region.
WesternZagros has exceeded its seismic commitment and the Company continues to acquire seismic data under its Phase II program.
On May 8, 2008, WesternZagros commenced drilling at Sarqala-1. The well is planned to target four potential reservoir zones, reaching a total depth of approximately 4,800 metres. Sarqala-1 is expected to take between 120 and 130 days to drill.
Key Iraq Statistics
Iraq has numerous large undeveloped fields and unexplored areas. Out of the 73 oil fields discovered, only 15 are producing. Six of the 73 oil fields are classified as super-giant (over 5 billion barrels), 23 as giant (500 million to 4 billion barrels) and 44 as medium to large (50 to 500 million barrels) or small (less than 50 million barrels).
Iraq has approximately 115 billion barrels (approximately 75 billion barrels undeveloped) of proven oil reserves and 220 billion barrels of proven and probable reserves.
