Norway’s DNO announced this week that a fourth well at Peshkabir oil field in its Tawke license was brought into production at 8,000 b/d. Output now stands at 35,000 b/d making Peshkabir the second highest producing foreign operated field in Iraqi Kurdistan (well behind nearby Tawke field’s 88,000 b/d). Peshkabir's gains have largely offset losses at Tawke field, whose production is down about 18,000 b/d y-o-y so far in 2018.
With two more wells to begin production testing this month, DNO is reaping the rewards of regularized payments from the KRG and a 50% y-o-y hike in capex, set to top $250mn in 2018 (MEES, 23 February). (CONTINUED - 105 WORDS)