Genel to Resume Drilling at Taq Taq

By John Lee.

Genel Energy (GENL.L) will resume drilling at its Taq Taq oilfield in the coming weeks.

Genel CFO Ben Monaghan told Reuters that the restart of drilling work will mark the first time in more than a year that Genel has drilled in the region.

It’s a symbolic restart of our investments,” he added.

Genel said last month it would invest $80-120 million this year in Iraqi Kurdistan, depending on export payments.

(Source: Reuters)

 

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