Tag Archives | Taq Taq

Genel Energy Confirms KRG Payment

Genel Energy notes the announcement from DNO ASA, as operator of the Tawke PSC, that the Tawke partners have received $47.23 million from the Kurdistan Regional Government (‘KRG’) as payment for February 2018 crude oil deliveries to the export market from the Tawke licence. Genel’s net share of the payment is $11.81 million. The Taq […]

Genel Energy receives Payment for January Sales

Genel Energy has announced that the Taq Taq partners have received a gross payment of $8.30 million from the Kurdistan Regional Government (KRG) for oil sales during January 2018. Genel’s net share of the payment is $4.57 million. Genel also notes the announcement from DNO ASA, as operator of the Tawke PSC, that the Tawke […]

Genel Energy Returns to Profit

Genel Energy has announced a return to profit. In its audited results for the year ended 31 December 2017, Murat Özgül (pictured), Chief Executive of Genel, said: “Another year of consistent payments by the KRG and a disciplined capital allocation strategy helped to generate material free cash flow in 2017. This was enhanced in the […]

KRG pays Genel under Receivable Settlement Agreement

Genel Energy plc has announced that it has received an override payment of $7.05 million from the Kurdistan Regional Government (KRG). The payment represents 4.5% of Tawke gross field revenues for the month of November 2017, as per the terms of the Receivable Settlement Agreement.  Taken together with the monthly entitlement payments for Taq Taq […]

Genel Updates on Oil Reserves

By John Lee. Genel Energy has announced the completion of competent person’s reports (‘CPRs’) relating to the oil reserves and resources at Taq Taq, Bina Bawi, and Miran. McDaniel and Associates have updated the CPR relating to the Taq Taq field (Genel 44% working interest, joint operator). RPS Energy Consultants Ltd. (‘RPS’), as part of […]

Genel Energy Updates on Operations in Kurdistan

Genel Energy has issued a trading and operations update in advance of the Company’s full-year 2017 results, which are scheduled for release on 22 March 2018. The information contained herein has not been audited and may be subject to further review. Murat Özgül, Chief Executive of Genel, said: “A strong final quarter of 2017 completed […]

Genel receives Payment for Taq Taq Exports

By John Lee. Genel Energy has announced that the Taq Taq partners have received a gross payment of $10.10 million from the Kurdistan Regional Government for oil sales during October 2017. Genel’s net share of the payment is $5.55 million. (Source: Genel Energy)

Genel Energy confirms Payments for KRI Oil Exports

Genel Energy has announced the receipt of payments from the Kurdistan Regional Government (KRG) for oil sales during September 2017 from the Tawke and Taq Taq PSCs. DNO ASA, as operator of the Tawke PSC, has announced the receipt of $54.32 million from the KRG as payment towards September 2017 crude oil deliveries to the […]

“Good Quality” Oil Bearing Reservoirs found at Taq Taq

Genel Energy has announced an update on activity at the Taq Taq field (Genel 44% working interest). The TT-29w well, which was drilled to appraise the northern flank of the Taq Taq field, has been completed as a producer after successfully encountering oil bearing Cretaceous reservoirs. The well, which was drilled to a measured depth […]

Genel Energy Updates on Kurdistan Operations

Genel Energy has issued a trading and operations update for Q3 2017. The information has not been audited and may be subject to further review. Murat Özgül (pictured), Chief Executive of Genel, said: “During the quarter Genel executed a landmark settlement agreement with the KRG over historical receivables, which we expect to materially enhance our […]

KRG Makes Payments for July Oil Exports

Genel Energy has announced that the Taq Taq field partners have received a gross payment of $10.39 million from the Kurdistan Regional Government for oil sales during July 2017. Genel’s net share of the payment is $5.71 million. Gross oil sales from the Taq Taq field in July 2017 averaged 14,873 bopd, including both exports […]

Taq Taq September Production Below Average

By John Lee. Genel Energy has announced that production at its Taq Taq field in Iraqi Kurdistan, in which it has a 44 percent working interest, averaged 13,475 barrels per day in September. This is considerably below the 2017 year-to-date average of 19,398 barrels per day. (Source: Genel Energy)