Genel Returns to Normal Staffing Levels in KRG

Source: www.gulfoilandgas.com 9/8/2014, Location: Middle East

Genel Energy announces that, following a significant improvement in the security situation in the border region of the Kurdistan Region of Iraq (ĎKRIí), the Company has begun the process of returning staffing levels to normal. This follows the temporary and precautionary step of withdrawing non-essential personnel from non-producing assets.

Genelís primary consideration is the safety and wellbeing of our employees. The decision to resume full operations has been made following a close monitoring of the situation, and in consultation with the Kurdistan Regional Government, Foreign and Commonwealth Office of the British Government, and other well-placed authorities. Genelís operations in the KRI remain safe and secure. Production at Taq Taq and Tawke has been entirely unaffected, and has risen to record levels. Since the start of September combined production from Taq Taq and Tawke has averaged c.234,000 bopd, with piped exports from both fields totalling an average of c.182,000 bopd, boosted by the recent upgrade work on the KRI-Turkey pipeline.

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