BUDAPEST, March 13 Hungarian oil group MOL
said on Thursday that it had started producing crude
from the Bijell field in the Akri-Bijeel block that it operates
in Iraq's Kurdish region.
MOL also said in a statement that its partner Gulf
Keystone's last estimates for the Akri-Bijeel block's
reserve potential were "very conservative."
MOL holds a 20 percent interest in the Shaikan block -
operated by Gulf Keystone - and 80 percent in Akri-Bijeel, where
the Bijell field is located.
"Reserve potential estimates relating to Akri-Bijeel block
in the 'Third-Party Audit' material published today by Gulf
Keystone Petroleum Ltd.... does not calculate with the latest
positive results and is significantly lower than the current
best estimate of the Operator," MOL said in a statement.
MOL did not give an estimate for the reserve potential.