Genel Energy updates on progress at Tawke

Genel Energy updated the market on licence activity at the Tawke production sharing contract on Thursday, where it has a 25% working interest with operator DNO.

The London-listed firm said gross production at Tawke averaged 108,700 barrels of oil per day in 2021, with the Peshkabir field contributing 61,800 barrels per day, and the Tawke field 46,900 barrels per day.

Drilling at the Tawke field resumed in the third quarter after an 18-month pause, during which time production decline was partially offset by gas injection and workovers.

Genel said DNO was expecting the ramp-up in drilling activities to maintain Tawke licence gross production at around 105,000 barrels per day during 2022.

“In 2021, a total of 7.6 billion cubic feet of otherwise flared Peshkabir gas was captured and injected into the Tawke field in 2021,” the board said in its update.

At 0948 GMT, shares in Genel Energy were down 1.12% at 143.37p.