Genel gives positive outlook on Kurdistan exploration fields

GENEL Energy, whose chief executive is former BP boss Tony Hayward, yesterday gave an upbeat statement on its operations in Kurdistan.

According to the firm’s operator in the region DNO, the Tawke field in Kurdistan is fulfilling expectations.

It said the Peshkabir-1 exploration well was ready for drilling.

Genel has a 25 per cent interest in Tawke while the Kurdistan Regional Government has a 20 per cent working interest. It was producing 65,000 barrels of oil a day at the end of last year.

Hayward said: "Operations on the Tawke field continue according to plan and we are on track to increase capacity to 100,000 barrels of oil per day by the end of 2012. Peshkabir-1 is the first well in our extensive exploration programme of seven high impact wells that we are drilling over the next 18 months, and we look forward to the completion of the testing programme.”