Tag Archives | Qara Dagh

Genel Energy declares maiden Interim Dividend

Genel Energy has announced its unaudited results for the six months ended 30 June 2019. Bill Higgs (pictured), Chief Executive of Genel, said: “These results demonstrate the continued success of our strategy -highly cash generative productionunderpins capital investment in growth opportunities that deliver rapid returns and enables a compelling cash return to shareholders through our […]

Stephen Whyte to step down at Genel Energy

Stephen Whyte, Chairman of Genel Energy, gave the following update on the business at the Company’s Annual General Meeting, held in London on Thursday: Genel had a very successful 2018, with free cash flow generation of $164 million even while making significant investment in growth. 2019 has seen us continue this success. We are delivering […]

Genel Energy Shares dip following Results

By John Lee. Shares in Genel Energy were trading down four percent on Wednesday morning after the company announced its audited results for the year ended 31 December 2018, in which it wrote down its Miran asset by $424 million. Despite this, Genel says it can now initiate “a material and sustainable dividend policy“, with […]

Genel Energy completes Acquisition of Chevron Fields

By John Lee. Genel Energy has announced that approval has been given by the Kurdistan Regional Government (KRG) regarding the acquisition of stakes from Chevron in the Sarta and Qara Dagh (pictured) blocks, in the Kurdistan Region of Iraq. According to a statement from the company, the acquisitions have now closed and Genel therefore has […]

Genel shares Rise on Chevron Iraq Partnership

Shares in Genel Energy were trading up 6 percent on Monday afternoon after the company announced that it has reached agreement to acquire stakes in the Chevron-operated Sarta and Qara Dagh blocks (pictured), in the Kurdistan Region of Iraq. Genel will acquire 30% equity in the Sarta licence by paying a 50% share of ongoing […]

Chevron Resumes Drilling in Kurdistan

By John Lee. Chevron has reportedly announced that it had resumed drilling operations at the Sarta-3 well in Iraqi Kurdistan. The US company temporarily suspended operations in October following the controversial independence referendum, which increased tensions between Baghdad and Erbil. According to Kurdistan 24, it currently operates and holds an 80-percent contractor interest in two […]

Iraq Britain Business Council welcomes Chevron

By John Lee. Chevron has become the latest member of the Iraq Britain Business Council (IBBC), joining 57 other world- and region-leading organisations that form IBBC’s membership. The company operates and has an 80 percent interest in the Sarta production-sharing contract (PSC) and the Qara Dagh PSC (pictured). The two blocks cover a combined area […]

Chevron Signs 3rd KRG Oil Deal

By John Lee. France24 reports that Chevron has signed another oil exploration deal in Iraqi Kurdistan. The contract, under which Chevron will acquire an interest in and operatorship of the Qara Dagh block production sharing contract, is the company’s third in the autonomous region; it was previously barred from working in non-Kurdish parts of the country […]

Chevron Awarded Stake in Qara Dagh

By John Lee. Iraqi Kurdistan’s energy minister, Ashti Hawrami, is reported as saying that the KRG has awarded Chevron a stake in the Qara Dagh oil block (pictured). Jay Pryor, Chevron’s Vice President for business development, met with Kurdistan President Mr Masoud Barzani at the World Economic Forum in Davos, reports Steel Guru. During the […]

Vast Exploration Hands Back Qara Dagh Block

By John Lee. Vast Exploration has announced that along with its consortium partners, Niko Resources and Groundstar Resources, it has entered into a relinquishment and termination agreement with the Kurdistan Regional Government to surrender their collective interests in the Qara Dagh Block (pictured). Vast acquired a working interest in the block under a production sharing […]

Groundstar Resources Presses Ahead at Qara Dagh

Groundstar Resources has announced that it is joining with its partners, Niko Resources and Vast Resources, in proceeding at Qara Dagh, where site-preparation, engineering and logistics will be carried out in the first half of 2012. The QD-2 well is anticipated to spud in the second half of 2012. Groundstar and partners are also exploring […]

Groundstar Concludes Operations at Qara Dagh; Shares Plunge

Groundstar Resources has announces that the consortium has concluded operations at the Qara Dagh -1 exploration well; the company’s shares closed down 28% on Friday. The well has been drilled to a total depth of 4,196 meters, the maximum depth possible with current casing and drilling equipment, ending in the basal section of the Upper […]