Genel Ramps Up KRG Output As Exports Rise

Anglo-Turkish Genel Energy has reported a 41% jump in production from its Taq Taq field in Iraq’s Kurdistan region in the first half of the year despite ongoing payments constraints resulting from the dispute between Baghdad and Erbil. Genel is now preparing to move forward with the development of the Miran and Bina Bawi gas projects having put further exploration work on hold.

Genel said in an operational update on 13 July ahead of announcing half yearly results on 6 August that net production from its Kurdish assets grew to deliver in excess of 100,000 b/d net to Genel on peak days in the January-June period from its working interest in the Taq Taq and Tawke fields. (CONTINUED - 1280 WORDS)


table Iraq: Key Oil Production & Export Data, 2Q 2015 (‘000 B/D)