Update on Tawke PSC reserves and resources

RNS Number : 7687H

Genel Energy PLC

15 March 2018

 

15 March 2018

Genel Energy plc

Update on Tawke PSC reserves and resources

Genel Energy plc ('Genel') notes that DNO ASA, as operator of the Tawke PSC (Genel 25% working interest), has today issued an update on the Tawke licence reserves and resources. The Tawke licence contains the Tawke and Peshkabir fields.

Gross oil reserves (MMboe)	1P	2P	3P
31 December 2016	353	536	725
2017 production	(40.0)	(40.0)	(40.0)
Technical revisions	35	17	195
31 December 2017	348	513	880

2C resources totalled 91 MMboe (211 MMboe at year-end 2016) following reclassification.

International petroleum consultants DeGolyer and MacNaughton carried out the annual independent assessment of the Tawke licence.

As previously announced, Genel will release results for the year ended 31 December 2017 on Thursday 22 March 2018.

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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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