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FINANCIAL NEWS
New oil well in Iraqi Kurdistan
05 Jun 2011
(MENAFN) Austrian petroleum group OMV, in which Abu Dhabi’s International Petroleum Investment Company holds a twenty percent stake, stated that the company came across oil while exploring in Iraqi Kurdistan, reported The National.
OMV’s executive board member responsible for exploration and production, Jaap Huijskes, said that drilling in the company’s Bina Bawi 3 well resulted in findings of hydrocarbons in a primary reservoir target.
Huijskes added that more investigations must be held. However, he said that the oil in the well seems to be of good quality, so preliminary results are very promising.
More News
08 Apr 2026
BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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