Genel Energy PLC: Update on Tawke PSC (1038231)
May 07 2020 - 02:00AM
UK Regulatory
Genel Energy PLC (GENL)
Genel Energy PLC: Update on Tawke PSC
07-May-2020 / 07:00 GMT/BST
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
7 May 2020
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 Q1 2020, gross production at the Tawke and Peshkabir fields averaged
61,493 bopd and 53,714 bopd respectively. After completing five development
wells in the licence during the quarter, three drilling rigs were released,
but the Company-operated workover rig continues to service production wells.
A drilling rig has been stacked at each field and can quickly be mobilised
when conditions warrant.
The Peshkabir-to-Tawke gas capture, transport and reinjection project to
effectively end CO2 emissions at Peshkabir and boost oil recovery at Tawke
is completed and undergoing commissioning.
-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 a socially responsible oil producer listed on the main
market of the London Stock Exchange (LSE: GENL, LEI: 549300IVCJDWC3LR8F94).
The Company is one of the largest London-listed independent hydrocarbon
producers, with an asset portfolio that positions us well for a future of
fewer and better natural resources projects. Genel has low-cost and
low-carbon production from the Taq Taq and Tawke licences in the Kurdistan
Region of Iraq, providing financial resilience that allows investment in
growth and the payment of a material and sustainable dividend, even at a low
oil price. Genel also continues to pursue further growth opportunities. For
further information, please refer to www.genelenergy.com [1].
ISIN: JE00B55Q3P39
Category Code: MSCM
TIDM: GENL
LEI Code: 549300IVCJDWC3LR8F94
Sequence No.: 62244
EQS News ID: 1038231
End of Announcement EQS News Service
1: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=3ec46b352f38452116096dbbab51b09e&application_id=1038231&site_id=vwd&application_name=news
(END) Dow Jones Newswires
May 07, 2020 02:00 ET (06:00 GMT)
Genel Energy (LSE:GENL)
Historical Stock Chart
From Feb 2024 to Mar 2024
Genel Energy (LSE:GENL)
Historical Stock Chart
From Mar 2023 to Mar 2024