By Jaime Llinares Taboada

 

Genel Energy PLC said Tuesday that it has suspended drilling operations at the QD-2 well of the Qara Dagh oil project in the Iraqi Kurdistan, where it holds a 40% stake.

The oil company said that the license partners have concluded that it is impractical to continue drilling to reach the primary target, due to "insurmountable technical problems."

"It is of course not the outcome that we wanted, but the geological case for Qara Dagh remains intact and attractive," Chief Executive Bill Higgs said.

 

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

 

(END) Dow Jones Newswires

January 04, 2022 02:43 ET (07:43 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.
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