Genel Energy’s chief executive officer Tony Hayward said:
“These are excellent deals for Genel. For what we consider a very good price, they give us 80 per cent of a high-quality asset in one of the last great hydrocarbon provinces accessible to international investors. Becoming operator will allow us to take the lead in shaping and driving forward a thorough exploration and appraisal programme.
“This is a block which saw a limited amount of surface exposure drilling in the earlier part of the 20th century, an era when explorers were seeking billion-barrel finds. Two of those historic wells tested hydrocarbons, one oil and the other gas.
“More recent seismic data, acquired in 2010, confirmed Chia Sukh as a faulted anticline that contains three or four structures we consider interesting,” Hayward said. “Operations are already in train for an exploration well this year . We anticipate further drilling over the next two years as we conduct a comprehensive exploration programme to fully evaluate the block.“
https://www.iraq-businessnews.com/2012/01/16/genel-takes-control-of-chia-surkh/