Few success stories have emerged from Iraqi Kurdistan in recent months. Kurdish private firm KAR (and by extension, the KRG) lost 280,000 b/d of output when Iraqi forces retook Kirkuk last October (MEES, 20 October 2017). Taq Taq field (operated by Anglo-Turkish firm Genel), which produced 130,000 b/d in 2Q 2015, continued its massive slide and is now producing a mere 15,000 b/d. Total production fell from 560,000 down to its current 330,000 b/d in a matter of months. And never mind the ongoing political crisis (MEES, 26 January).
But developments at the Tawke license (DNO 75%op, Genel 25%) buck the trend as a rare source of positivity in the region. Output at the license edged up from 107,000 b/d to 109,000 b/d in 2017 as DNO switched focus from the main Tawke field to the “low hanging fruit” of the smaller Peshkabir field within the Tawke license. With major gains planned at Peshkabir, Tawke license output could average 120,000 b/d in 2018. (CONTINUED - 812 WORDS)