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OMV Makes First Oil Discovers oil in Iran

OMV subsidiary, OMV Iran Onshore Exploration GmbH, has made its first oil discovery on Mehr Block in the Zagros region of western Iran.

The well, drilled to 4,148 m, is OMV's first on the 2,500-sq-km block in Khuzestan, and flowed at a rate of 1,040 b/d of 22 gravity oil.

The company is drilling in the Zagros fold belt under a 4-year agreement signed in 2001 with National Iranian Oil Co. This year, the company plans to drill two more exploration wells on the block to define the field size.

OMV, a 34% stakeholder in the block, is the operator on behalf of Repsol YPF, Madrid, and Sipetrol SA, Santiago, with 33% interest each.

... Payvand News - 1/18/05 ... --

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