23rd Dec 2016 07:37
LONDON (Alliance News) - Genel Energy PLC said Friday the third and final well of its Taq Taq drilling programme in Iraq has been completed, with all the wells in the field now flowing oil.
Genel said the third well, TT-16y, is naturally flowing at around 8,000 barrels of oil per day, with gross production in the Taq Taq field currently averaging 45,000 bopd to date.
The company noted the wells at the Shiaranish reservoir in the field are currently producing a combined 9,000 bopd. Discussions on a potential workover of one of those well is ongoing, which has been producing 400 bopd due to mechanical issues in the completion of the well, compared to 5,000 to 9,000 bopd in testing.
Genel's net working interest production from its Taq Taq and Tawke fields in Iraq has averaged 53,500 bopd to date in 2016, with an updated field development plan for Taq Taq due in the first quarter of 2017.
Genel said it will issued a trading update with respect to its 2016 operations and 2017 outlook on January 24.
By Adam Clark; [email protected]
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
Genel Energy