Update on Tawke PSC

RNS Number : 0253W

Genel Energy PLC

09 November 2017

 

9 November 2017

Genel Energy plc

Update on Tawke PSC

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

The Peshkabir-3 well on the Tawke PSC is currently undergoing extended production testing across a horizontal section in excess of 1.2 kilometres of Cretaceous and Jurassic aged reservoirs. A total of ten oil zones and one gas zone have been identified for testing. The first oil zone tested flowed in excess of 3,000 bopd on a 64/64" choke.

The Peshkabir-2 well continues to produce at a steady rate of 4,700 bopd from one of four production zones and is commingled with over 100,000 bopd from the adjacent Tawke field for export. The Peshkabir early production facility remains on track for start-up by year-end 2017.

Operations and investment activity at the Tawke PSC continue uninterrupted.

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For further information, please contact:

Genel Energy Phil Corbett, Head of Investor Relations Andrew Benbow, Head of Public Relations	[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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