In line with its March reserves update, Anglo-Turkish firm Genel has begun providing monthly production updates from its Taq Taq field. Formerly the most productive field in the KRG at 130,000 b/d, a series of geological downgrades have left it barely producing 10% of this.
Genel reported April production of just 18,000 b/d on 4 May, adding that Q1 production averaged just under 25,000 b/d. It remains on track to produce 15-20,000 b/d over the course of 2017 (MEES, 31 March). Genel’s short-term finances are now dependent on its 25% stake in DNO’s Tawke. (CONTINUED - 92 WORDS)
