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Huge Oil Find In Kurdistan
Canadian oil exploration firm Heritage Oil on Wednesday announced a major oil discovery in the Kurdistan region of northern Iraq, estimated to contain up to 4.2 billion barrels.
The Miran West field holds between 2.3 to 4.2 billion barrels of oil, the company said in a statement, but the "highly fractured nature" of the reservoir means only 50 to 70 percent of it is recoverable.
Even so, Heritage Oil president Tony Buckingham said the discovery marks a "significant development milestone" for the company.
The Miran West field together with the neighboring Miran East field, covering 330 square kilometers (127 square miles), have the…
8May2009 | The Real Deal | 0 comments | Continued
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