The Missan Oil Company (MOC) has announced the completion of the exploratory oil well in the Deema-1 [Dima-1] formation.
Oil Minister Abdul Kareem Luaibi [Elaibi] said that the Deema oil field, which is located in Maysan governorate, was completed 100 percent successfully, and in a record time, without any problems by the MOC and the Iraqi Drilling Company (IDC), using the rig “Oil Well/21″.
The Minister said a giant reserve of light oil (API=31-33) was found in depth of 150 meters.
The MOC paid IDC $13,940,700 for drilling, hardware and operations, in addition to IQD 4,233,618,750 for the oil rig operation. And the project took 210 days to completion, which is considered a record time.
Source:
http://www.iraq-businessnews.com/2013/02/06/more-details-of-missan-oil-find/#respond
