OREANDA-NEWS.   Oil Search reports that, the Taza 2 well was at a depth of 3,501 metres and drilling ahead in a 6-1/8” hole. During the week, a 9 metre core was cut in the Euphrates Formation. Good recovery of the core was achieved and a comprehensive analysis programme is planned. Continued hydrocarbon shows were observed throughout the Euphrates. Drilling progress for the week was 67 metres.

Taza 2 is located 10 kilometres north-west of Taza 1 and will appraise the hydrocarbon-bearing intervals discovered by Taza 1 (Dhiban/Jeribe and Euphrates/Kirkuk Formations), as well as explore deeper Tertiary and Cretaceous targets including the Shiranish Formation.

The participants in Taza 1 are:
- Oil Search (Iraq) Limited 60%
- Total E&P Kurdistan Region of Iraq (Taza) B.V. 20%
- Kurdistan Regional Government (KRG) 20%

Oil Search’s funding interest is 75%, with the KRG carried by Oil Search and Total E&P Kurdistan Region of Iraq (Taza) B.V.