Anglo-Turkish firm Genel confirmed at its annual results presentation on 22 March that its Bina Bawi asset (100%) contains a “Jurassic oil reservoir [that] can be developed entirely separately to gas.” This potentially paves the way for expedited stand-alone development of the field’s 37mn barrels (2C) oil reserves.
Oil reserves are modest, but additional production would be warmly welcomed by the KRG in the wake of last October’s loss of 280,000 b/d Kirkuk output (MEES, 20 October 2017). Especially given that the 47°API crude would lighten the increasingly heavy Kurdish export stream. A single test well in 2013 produced at 3,750 b/d. (CONTINUED - 642 WORDS)
