Kurdistan’s Tawke Field Reserves Downgrade

The Tawke block’s (DNO 75%op, Genel 25%) Peshkabir field has been covering up for sizeable production declines at the main Tawke since late 2017. Output was a healthy 128,000 b/d in January, but the Tawke field’s was just 74,000 b/d against 54,000 b/d - a 21.3% annual decline ( MEES, 8 February ).

An assessment of the block’s reserves by DeGolyer and MacNaughton released this week highlight a deteriorating picture for the Tawke field. While reserves at the block at end-2018 were unchanged year-on-year after adjusting for production, Peshkabir is again carrying the load; (2P reserves up from 75mn barrels to 126mn barrels) offsetting a sizeable reserves downgrade at its bigger brother. Output at the Tawke field was 31.2mn barrels last year, but its 2P reserves are down 62mn barrels to 376mn barrels. At average 2018 rates that equates to 12 years of production. (CONTINUED - 139 WORDS)