15th Mar 2018 10:10
The reserve update for Tawke was provided by its operator DNO ASA, but Genel has a 25% working interest in the site.
At the end of 2017, Tawke had 348 million proven barrels of oil equivalent. This was down modestly from 353 MMboe at the end of 2016 after 2017 production of 40 MMboe was subtracted and a further 35 MMboe were added through technical revisions.
Probable and proven reserves stood at 513 MMboe at the end of 2017, down from 536 MMboe at the end of 2016. This was after production and a 17 MMboe technical revision higher.
Possible, probable and proven reserves stood at 880 MMboe, higher than the 725 MMboe reported at the end of 2016. This was after technical revisions added 195 MMboe, more than offsetting the loss of 40 MMBoe through production.
The best estimate of contingent resources stood at 91 MMboe at the end of 2017. This was down from 211 MMboe at the end of 2016.
Genel will announce its 2017 financial results on Thursday next week.
Shares in Genel were 0.5% lower at
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