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MOL starts drilling test well in Iraqi field

Hungarian oil and gas company MOL on Friday said drilling of an appraisal well had started at an Iraqi field in which it holds a 20% stake.

Drilling and testing started on Thursday and is expected to take two months.

The well, in the Shaikan oil field of the Kurdistan Region, is very close to another well at which a discovery was made last year, MOL said. Production from an 18- to 24-month test at that well will be sold on the domestic market, it added.

Gulf Keystone Petroleum operates the Shaikan Block. (MTI-ECONEWS)