Qara Dagh

Genel reached agreement to acquire stakes in the Chevron operated Qara Dagh block, in the Kurdistan Region of Iraq, in January 2019.

Genel acquired 40% equity in the Qara Dagh appraisal licence and became the operator through a carry arrangement, covering activity for the QD-2 well.

Qara Dagh offers an exciting appraisal opportunity. The QD-1 well, completed in 2011, tested light oil in two zones from the Shiranish formation. The QD-2 well location has been selected c.10 km to the northwest of QD-1, and will test a more crestal position on the structure with a high angle well to maximise contact with reservoir fractures.

The well will test the crestal portion of the prospect which, based on a rigorous re-mapping exercise, has a mean prospective resource estimated by Genel at c.400 MMbbls. Genel estimates that the downdip segment tested by the QD-1 well defines a 2C resource of 47 MMbbls.

Genel’s high-potential 2021 drilling campaign began with the spud of the QD-2 well in April. Results are anticipated around the end of Q3 2021.

Our social investment programme is extensive around Qara Dagh, working with local companies to deliver projects that respond to the requirements of local communities. To date a local primary school has been renovated and secondary school refurbished, a football pitch constructed, a road restored, and clean water provided to local villages. There are also over 300 local people employed at Qara Dagh, and contracts awarded to 24 local companies.