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Genel Provides Update on Tawke PSC

Source: www.gulfoilandgas.com 10/9/2018, Location: Middle East

Genel Energy plc notes that DNO ASA, as operator of the Tawke PSC (Genel 25% working interest), has issued an update on licence activity:

Production at the Peshkabir field in the Kurdistan Region of Iraq has ramped up to 50,000 bopd, meeting the end-2018 target ahead of schedule and below budget.

One of two recently completed wells, Peshkabir-7, is producing over 10,000 bopd from nine Cretaceous zones through temporary test facilities and exported. The other, Peshkabir-6, drilled as a production well, but with the additional objective of appraising deeper formations, has established a deeper Cretaceous oil/water contact level than previously estimated. Further testing is underway, including test production of multiple producing zones.

The Peshkabir-8 well, spud in late August, is drilling ahead at 2,325 meters. Once completed, the rig will move to spud Peshkabir-9 in November.

Four other wells at Peshkabir now produce at a combined rate of close to 40,000 bopd following a workover at Peshkabir-3 which boosted production from that well to 11,000 bopd from 8,000 bopd.

Peshkabir production is processed through temporary test facilities until commissioning of a central processing facility by end-2018, which will have a capacity of up to 50,000 bopd. The Company is also installing a 10-inch pipeline from Peshkabir to Fishkhabur with a capacity of 60,000 bopd. Field production is currently transported to Fishkhabur by tanker truck and a 6-inch pipeline.

At the Tawke field, the Tawke-50 shallow Jeribe well drilled to a depth of 320 meters will be brought on production within several days. The Tawke-49 Cretaceous well is drilling ahead at 2,245 meters and will be completed later this month. Two additional Tawke wells, one each in the Jeribe and the Cretaceous, will be drilled by the end of the year. Workovers are also underway at two wells. Tawke production currently stands at just over 80,000 bopd.

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