Potential Projects
Block 6 Exploration
In 2002 Petrel signed a working agreement with the Saddam Hussein government for Block 6, a 10,000 sq Km exploration block in Western Iraq between Iraq and Jordan. The block is located in a highly prospective area where little exploration activity has been undertaken. Petrel has an agreed work program with the Iraqi Oil Ministry. Clearly there is a risk that the agreement may not be ratified under the new hydrocarbon law but no decision has been made so far.
Acting on the recommendations of leading international geological advisors and in consultation with the Iraqi Oil Ministry, Petrel has already proposed an integrated exploration work programme for Block 6 consisting of field data collection to analyze the prospective zones; sample analysis using international experts in Trinity College, Dublin; satellite interpretation and mapping of possible plays leads and major lineaments and folds; regional field work and data analysis, seismic interpretation and reprocessing, among others.
Other Projects
The Board of Petrel and its technical team continue to work closely with the Iraqi Oil Ministry in the identification of potential projects in Iraq. The company is currently in discussions concerning a major oil field re development opportunity in Southern Iraq.