Tag Archives | Tawke

Genel Energy Update on Oil Reserves

By John Lee. Genel Energy has issued an updated on oil reserves across its portfolio: Working interest oil reserves (MMbbls) 1P 2P 3P 31 December 2022 68.9 92.2 125.6 Production (4.5) (4.5)   (4.5) Revision of previous estimates (1.0)  4.0   (1.8) Acquisitions and disposals   - (2.7)   (8.4) 31 December 2023 63.4 88.9 […]

DNO Kurdistan Production Rebounds, but Prices are Lower

By John Lee. DNO has reported an average net production of 52,600 barrels of oil equivalent per day (boepd). Production in Iraqi Kurdistan contributed 34,900 boepd. Gross production from the DNO-operated Tawke license has rebounded to an average of 80,000 boepd by the end of the year, following the pipeline shutdown in March 2023. The […]

Genel Energy Cuts Costs; Arbitration Case to Start Soon

By John Lee. UK-listed Genel Energy has said that it has cut all non-essential activity and significantly reduced spend, while developing a new source of income through domestic sales in the Kurdistan Region. Meanwhile, an arbitration hearing into the termination of the Miran and Bina Bawi production sharing contracts (PSCs) is scheduled to start in […]

DNO Confirms Q3 2023 Local Oil Sales in Iraqi Kurdistan

By John Lee. DNO ASA, the Norwegian oil and gas operator, will publish its Q4 2023 operating and interim financial results on 8 February at 07:00 (CET). A videoconference call with executive management will follow at 14:00 (CET). The Company issues below an update on production and sales volumes for the quarter as well as […]

Oil Production at Tawke Field Continues to Climb

DNO ASA, the Norwegian oil and gas operator, today announced that gross production from its operated Tawke license in the Kurdistan region of Iraq continues to climb, with the December to date average approaching 90,000 barrels of oil per day (bopd). That lifts the projected fourth quarter 2023 figure to 65,000 bopd, up from 26,000 […]

Genel Energy Q3 Results

Genel Energy plc Trading and operations update Genel Energy plc ('Genel' or 'the Company') issues the following trading and operations update in respect of the third quarter and first nine months of 2023. Paul Weir, Chief Executive of Genel, said: "Despite encouraging comments from senior politicians, the Iraq-Türkiye pipeline remains shut. Good progress has been […]

Oil Output Increases at DNOs Kurdistan Fields

By John Lee. DNO has confirmed that production continues to increase at its fields in Iraqi Kurdistan, with output so far in the fourth quarter averaging double the level of the third quarter. However, the company added that APIKUR members will "not be in a position to produce oil for pipeline exports until it is […]

DNO announces Q3 Iraq Oil Production

By John Lee. DNO ASA, the Norwegian oil and gas operator, will publish its Q3 2023 operating and interim financial results on 9 November at 07:00 (CET). A videoconference call with executive management will follow at 10:00 (CET). The Company issues below an update on production and sales volumes for the quarter as well as […]

DNO Re-Starts Oil Production at Tawke

DNO ASA, the Norwegian oil and gas operator, today reported that production from its flagship Tawke field in Kurdistan has been restarted following a four-month shut-in triggered by the closure of the Iraq-Turkey Pipeline export route. Production was restarted last month to conduct well integrity tests and synchronize reservoir models but has continued in response […]

Pipeline Closure causes steep Revenue Fall at Genel Energy

By John Lee. Revenues at Genel Energy have, as expected, fallen sharply as a result of the closure of the Iraq-Turkey Pipeline (ITP) which brings oil from Northern Iraq to Turkiye's port of Ceyhan. In its unaudited results for the period ended 30 June 2023, Paul Weir, Chief Executive of Genel, said: "The closure of […]

DNO Scales Back Kurdistan Spend

By John Lee. DNO, which operates the Tawke licence in Iraqi Kurdistan, has said on Thursday that, given the uncertain timing of oil export resumption from Iraqi Kurdistan and, importantly, of payments by the Kurdistan Regional Government (KRG) for previous oil sales, it has scaled back spend in Kurdistan, including drilling. In its statement of […]