Genel Energy Provides Update on Tawke PSC

Source: www.gulfoilandgas.com 10/29/2020, 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 Tawke licence increased to 113,700 bopd in the third quarter, reversing declines resulting from a reduction in activity triggered by the instability caused in the wake of COVID-19. Q3 2020 production was split 50:50 between the Tawke and Peshkabir fields. Production was up 12% from the prior quarter following a campaign of quick turnaround, low-cost well interventions and the start-up of the Kurdistan Region of Iraq’s first enhanced oil recovery project.

This production performance was delivered with a one-third reduction in 2020 spend versus original budget, which led to fewer drilled wells and instead the launch of a well intervention campaign at Tawke and Peshkabir, with both fields outperforming expectations.

The operator expects to exit the year with Tawke licence production at third quarter levels.

The Peshkabir-to-Tawke gas capture and reinjection project, in operation since mid-year, is continuing to cut gas flaring and greenhouse emissions by half at Peshkabir to 7 kilograms CO2 equivalent for each barrel of oil equivalent produced, while unlocking additional oil at Tawke. By the end of October 2020, two billion cubic feet of gas that otherwise would have been flared was injected into Tawke, already delivering a positive production response at the field, and at the same time reducing field water production.


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