18th Jan 2021 10:40
(Alliance News) - Genel Energy PLC on Monday noted the achievement of gross oil production from the Tawke production sharing contract averaging over 100,000 barrels per day for the sixth year in a row.
According to DNO ASA, Norwegian oil firm and operator of the onshore Tawke PSC located in the Kurdistan region of Iraq, gross production for 2020 averaged 110,300 barrels of oil per day, evenly split between the Tawke and Peshkabir fields.
Looking ahead, up to eight new development wells will be drilled at the Tawke licence, and multiple workovers will be conducted on existing wells, in order to keep production above 100,000 bopd.
Genel - which holds a 25% working interest in Tawke - will publish a trading and operations update on Wednesday.
Shares in Genel Energy were up 5.9% at 172.80 pence on Monday in London.
By Dayo Laniyan; [email protected]
Copyright 2021 Alliance News Limited. All Rights Reserved.
Related Shares:
Genel Energy