Tag Archives | Tawke

Genel Energy Updates on Oil Reserves

Genel Energy has issued an update on oil reserves and resources across its portfolio. Bill Higgs (pictured), Chief Executive of Genel, said: "The quality of our reserves is the foundation of our resilient business model, providing us with low-cost production that can generate cash for many years to come. "Drilling at Sarta this year has […]

DNO Adds New Oil Reserves

DNO ASA, the Norwegian oil and gas operator, has announced it replaced 87 percent of 2020 production through additions to its proven (1P) reserves notwithstanding reduced activity in the wake of low oil prices. In the Kurdistan region of Iraq, the Company replaced 111 percent of last year's production through additions to 1P reserves. Yearend […]

DNO Buys Exxon's Stake in Iraqi Oilfield

DNO ASA, the Norwegian oil and gas operator, has announced the acquisition of ExxonMobil's 32 percent interest in the Baeshiqa license in the Kurdistan region of Iraq, doubling DNO's operated stake to 64 percent (80 percent paying interest), pending government approval. The Company plans to continue an exploration and appraisal program on the license while […]

Genel Energy expects Continued Growth

By John Lee. Genel Energy has issued the following trading and operations update in advance of the Company's full-year 2020 results, which are scheduled for release on 18 March 2021. The information contained herein has not been audited and may be subject to further review. Bill Higgs, Chief Executive of Genel, said: "Executing our strategy […]

Genel Energy issues Update on Tawke

Genel Energy notes that DNO ASA, as operator of the Tawke PSC (Genel 25% working interest), has issued an update on licence activity. Gross operated production from the Tawke licence averaged 110,300 bopd in 2020, about evenly split between the Tawke and Peshkabir fields, the sixth consecutive year in which gross Tawke licence production has […]

KRG to Resume Override Payments to Genel

By John Lee. Genel Energy has received notice from the Kurdistan Regional Government ('KRG') that override payments, whereby Genel receives 4.5% of monthly Tawke gross field revenues, will resume with the January 2021 invoice, to be paid in February 2021. Assuming the prevailing oil price, this translates into over $5 million of additional cash proceeds […]

Genel Energy issues Trading and Ops Update

Genel Energy has issued the following trading and operations update in respect of the third quarter and first nine months of 2020. Bill Higgs (pictured), Chief Executive of Genel, said: "Genel continues to demonstrate its resilience and ability to be move quickly to navigate changing external conditions. Production has remained robust, increasing quarter on quarter, […]

DNO boosts Kurdistan Oil Output in Q3

DNO ASA, the Norwegian oil and gas operator, today reported boosting Kurdistan output to 113,700 barrels of oil per day (bopd) in the third quarter, reversing declines triggered by oil market convulsions in the wake of Covid-19. Production from the DNO-operated Tawke and Peshkabir fields was up 12 percent from the prior quarter following a […]

Genel Energy Publishes Sustainability Report

Genel Energy has published its first comprehensive Sustainability Report, prepared in accordance with the Global Reporting Initiative ('GRI') Standards core option. Bill Higgs, Chief Executive of Genel, said: "Genel has had a longstanding commitment to positively impact the communities in which we operate. This has focused on three core areas - economic development, education, and […]

DNO Starts Gas Capture in Kurdistan

DNO ASA, the Norwegian oil and gas operator, today announced that the USD 110 million Peshkabir Gas Capture and Injection Project in its Tawke license in the Kurdistan region of Iraq is onstream and has reached the one billion cubic feet of gas injection milestone. The project is expected to reduce annual emissions from the […]

Genel Energy Shares Fall on Asset Impairment

By John Lee. Shares in Genel Energy were trading down 4.5 percent on Thursday morning after the company announced its unaudited results for the six months ended 30 June 2020. Bill Higgs, Chief Executive of Genel, said: "Genel's robust business model, which is designed to provide resilience in a challenging environment, has demonstrated its value […]

DNO "Steps Up Activity"

DNO ASA, the Norwegian oil and gas operator, today reported stepped up investments across its portfolio on the back of higher production and significantly improved liquidity outlook as the Company recovers from the oil market turmoil that upended the second quarter of 2020. Operated production in July at the Company's flagship Tawke license in the […]