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Genel Energy Expects Significant 2019 Output Boost

Source: Reuters 8/7/2018, Location: Middle East

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Iraqi Kurdistan-focused Genel Energy is likely to significantly increase its oil production guidance next year, Chief Financial Officer Esa Ikaheimonen said.

The output boost is expected to come from 11 wells currently being drilled in three fields in the region, eight of which are expected to begin producing this year.

London-listed Genel reaffirmed its 2018 production guidance of 32,800 barrels of oil per day in its half-year results.

“We maintained that guidance... signalling that even with the existing level we would exceed guidance,” Ikaheimonen told Reuters.

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