The initial capacity of the EWT from Bina Bawi-3 is around 5,000 boe/d with the potential to expand beyond this level to approximately 10,000 boe/d, as future wells become available. The Bina Bawi field, located east of Erbil, is operated by OMV which holds a 36% stake, 44% are held by Genel Energy plc and further 20% by KRG.
A further extensive testing program will be planned on the Bina Bawi-4 and -5 wells during the course of Q2/13, and the contractor group will be moving ahead with the preparation of a Field Development Plan for submission to the Ministry of Natural Resources of the KRG in Q3/13.
Jaap Huijskes, OMV executive board member responsible for Exploration and Production said, “We are very pleased with this result. The progress of the development of Bina Bawi as well as the Declaration of Commerciality are important milestones to further expand our business in this region. In accordance with our partners, Genel and KRG, we will continue our work to fully appraise the potential of this promising field. OMV sees the Kurdistan Region of Iraq as an important area for growth and the progress on the Bina Bawi field underlines our ability to execute our strategy”.
