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Wednesday, Oct 30
Marathon announces "significant" discovery in Kurdistan
- Marathon Oil (MRO +0.4%) says its Mirawa-1 exploration well has discovered multiple stacked oil and natural gas producing zones on its Harir Block in Iraqi Kurdistan.
- CEO Lee Tillman, while not disclosing a resource figure for the discovery, says the well found “significant resources" and "demonstrates the importance of this region as a potential major hydrocarbon producer."
- MRO is operator with a 45% working interest in the Harir block, Total (TOT) owns 35%, and Kurdistan holds a 20% carried interest.