Middle East Economic Survey

VOL. LII

No 19

11-May-2009

IRAQ

Heritage Announces Major Oil Find In Kurdistan

Calgary-based independent Heritage Oil has announced that initial results on its Miran West-1 well in the Kurdistan Regional Government (KRG) area of Iraq point to the existence of oil-in-place of 2.3-4.2bn barrels. There was potential to truck some production by the end of this year, Heritage said in a 6 May press release. The firm added that a recovery rate of 50-70% could be expected,...