August 25, 2009

NOW IF ONLY THEY FOLLOW THE NORWAY MODEL:

Kurdistan oil strike delivers barrels by the million (Tamsin Carlisle, August 25. 2009, The National)

Gulf Keystone Petroleum may have found up to six times as much oil in Iraqi Kurdistan as it originally thought, making its oil strike the second multibillion barrel discovery in the region this year.

After encountering more oil while drilling its Shaikan-1 test well deeper, the British company said it revised its estimate of oil in place to between 1.5 billion and 3 billion barrels. That is up from the 300 million and 500 million barrel estimate it made earlier this month, and could translate to as much as 2 billion barrels of recoverable crude.

Posted by Orrin Judd at August 25, 2009 8:00 AM
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