OPERATED AND NON-OPERATED PETROLEUM DEVELOPMENT AND PRODUCTION ASSETS
WesternZagros holds two Production Sharing Contracts in the Kurdistan Region of Iraq, which provide for the development and production of crude oil and natural gas. These contracts set the fiscal terms for developing the oil and natural gas fields on the Kurdamir and Garmian Blocks. The two contracts are for the Garmian Block and the Kurdamir Block.
Garmian is the smaller of the two fields but is currently producing from four wells, with Gazprom Neft Middle East B.V. as the operator
Kurdamir is the larger of the two petroleum fields, and WesternZagros is the operator. The company and the Kurdistan Regional Government have agreed to a field development plan that will enable this significant discovery to begin producing oil and gas.