REG-Genel Energy PLC Genel Energy PLC: Update on Tawke PSC

Genel EnergyAnnouncement

29/07/2021 07:05

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   Genel Energy PLC (GENL)
   Genel Energy PLC: Update on Tawke PSC

   29-Jul-2021 / 07:00 GMT/BST
   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   29 July 2021

    

                                Genel Energy plc

                                        

                              Update on Tawke PSC

                                        

   Genel Energy plc ('Genel')  notes that DNO ASA,  as operator of the  Tawke
   PSC (Genel 25% working  interest), has today issued  an update on  licence
   activity.

    

   Gross operated Tawke licence production including the Tawke and  Peshkabir
   fields averaged 110,300 bopd in Q2 2021 (112,000 bopd in Q1 2021).

    

   DNO's gross production  guidance for  the Tawke licence  for 2021  remains
   110,000 bopd.

    

   Q2 2021 Tawke licence gross operated production averaged 110,300 bopd,  of
   which the Peshkabir field contributed 63,000 bopd (61,400 in Q1 2021)  and
   Tawke field 47,300 bopd (50,600 in Q1 2021).

    

   Five new wells scheduled at Peshkabir in 2021 in addition to workovers and
   interventions in existing wells.

    

   With no new wells  having come on  production at the  Tawke field in  more
   than a year, the natural production  decline has been partially offset  by
   pressure support from reinjection of over 20 million cubic feet of gas per
   day from the Peshkabir field in addition to workovers and interventions of
   existing wells.

    

   Genel will issue 2021 half-year results next Tuesday, 3 August.

    

                                     -ends-

    

   For further information, please contact:

    

   Genel Energy
                                         +44 20 7659 5100
   Andrew Benbow, Head of Communications
                                          
   Vigo Communications
                                         +44 20 7390 0230
   Patrick d'Ancona 

    

   Notes to editors:

    

   Genel Energy is  a socially responsible  oil producer listed  on the  main
   market   of    the    London    Stock   Exchange    (LSE:    GENL,    LEI:
   549300IVCJDWC3LR8F94). The  Company is  one of  the largest  London-listed
   independent hydrocarbon producers, with an asset portfolio that  positions
   us well for a future of fewer and better natural resources projects. Genel
   has low-cost and low-carbon production from the Sarta, Taq Taq, and  Tawke
   licences in the Kurdistan Region  of Iraq, providing financial  resilience
   that allows  investment  in growth  and  the  payment of  a  material  and
   sustainable dividend, even  at a low  oil price. Genel  also continues  to
   pursue further growth opportunities. For further information, please refer
   to  1 www.genelenergy.com.

    

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   ISIN:          JE00B55Q3P39, NO0010894330
   Category Code: MSCM
   TIDM:          GENL
   LEI Code:      549300IVCJDWC3LR8F94
   Sequence No.:  118694
   EQS News ID:   1222516


    
   End of Announcement EQS News Service

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