17th Mar 2014 09:29
LONDON (Alliance News) - Genel Energy PLC Monday said DNO International ASA, the operator of the Tawke Production Sharing Contract in the Kurdistan Region of Iraq, has started production from two new horizontal wells.
The exploration and production company said the two wells are producing at a combined rate of 37,000 barrels per day.
One of the wells, Tawke-21 eight fracture corridors penetrated an 980 metre horizontal space and flowed an average 9,700 barrels per day, and the other well, Tawke-22, penetrated an 800 metre horizontal space and flowed an average rate of 8,800 barrels per day.
The company said two previous Tawke horizontal wells came on production in the second half of last year, two wells are currently drilling and three more are scheduled which, together with Tawke-21 and Tawke-22, will bring the total number of horizontal wells in the field to nine by year-end.
Separately Monday, Cairn Energy PLC said the exploration JM-1 well offshore Morocco, in which Genel Energy is a partner, has been plugged and abandoned without testing.
Genel Energy shares were up 0.7% to 1,022.00 pence Monday.
By Tom McIvor; [email protected]; @TomMcIvor1
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