Genel Energy PLC (GENL)
Genel Energy PLC: Update on Tawke PSC
31-Oct-2019 / 07:00 GMT/BST
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The issuer is solely responsible for the content of this announcement.
31 October 2019
Genel Energy plc
Update on Tawke PSC
Genel Energy plc ('Genel') notes that DNO ASA, as operator of the Tawke PSC
(Genel 25% working interest), has today issued an update on licence
activity:
In the Kurdistan Region of Iraq, third quarter production at the Tawke
licence averaged 119,800 bopd. Production in the quarter was impacted by a
workover of the P-2 well and side-track of the P-3 well at the Peshkabir
field.
DNO expects to exit the year with Tawke licence production averaging 120,000
bopd and to maintain this rate into 2020.
Tawke licence cumulative production recently reached a significant milestone
of 300 MMbbls.
DNO stated that the Peshkabir-to-Tawke gas project is on track to be
delivered in Q1 2020, effectively eliminating gas flaring while enhancing
recoverability at the Tawke field.
-ends-
For further information, please contact:
Genel Energy +44 20 7659 5100
Andrew Benbow, Head of Communications
Vigo Communications +44 20 7390 0230
Patrick d'Ancona
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. Genel has highly cash-generative oil production
from the Taq Taq and Tawke licences, with material growth potential from
other assets in the portfolio. Genel also continues to pursue further growth
opportunities. For further information, please refer to www.genelenergy.com
[1].
ISIN: JE00B55Q3P39
Category Code: MSCH
TIDM: GENL
LEI Code: 549300IVCJDWC3LR8F94
Sequence No.: 26219
EQS News ID: 901395
End of Announcement EQS News Service
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(END) Dow Jones Newswires
October 31, 2019 03:00 ET (07:00 GMT)
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