Update on Tawke PSC

RNS Number : 2810E

Genel Energy PLC

08 February 2018

 

8 February 2018

Genel Energy plc

Update on Tawke PSC

Genel Energy plc ('Genel') notes that DNO ASA, as operator of the Tawke PSC (Genel 25% working interest), has today issued the following update on licence activity.

Two wells are currently producing a total of 16,000 bopd at the Peshkabir field, which are commingled for export with another 97,000 bopd from the Tawke field, on the same license.

A total of six Peshkabir wells are planned to be drilled this year, and field production is expected by the operator to reach 30,000 bopd by summer and continue to ramp up in the second half of the year.

At the Tawke field, the field partners are finalising plans to drill four wells in the latter half of 2018, in addition to the currently drilling Tawke-48 well, which is slated for completion by end-February.

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For further information, please contact:

Genel Energy Andrew Benbow, Head of Communications	[phone]
Vigo Communications Patrick d'Ancona	[phone]

Notes to editors:

Genel Energy is an independent oil and gas exploration and production company listed on the main market of the London Stock Exchange (LSE: GENL, LEI: 549300IVCJDWC3LR8F94). The Company, with headquarters in London and offices in Ankara and Erbil, is one of the largest London-listed independent oil producers, and is the largest holder of reserves and resources in the Kurdistan Region of Iraq. Through its Miran and Bina Bawi gas fields, the Company is positioned to be a cornerstone provider of KRI gas to Turkey under the KRI-Turkey Gas Sales Agreement. Genel also continues to pursue further growth opportunities within the Middle East and Africa. For further information, please refer to www.genelenergy.com.

 

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