• 3 minutes Oil Price Could Fall To $30 If Global Deal Not Extended
  • 8 minutes Why Is America (Texas) Burning Millions of Dollars Per Day Of Natural Gas?
  • 11 minutes Is $60/Bbl WTI still considered a break even for Shale Oil
  • 15 minutes CNN:America's oil boom will break more records this year. OPEC is stuck in retreat
  • 53 mins The Pope: "Climate change ... doomsday predictions can no longer be met with irony or disdain."
  • 24 hours Hormuz and surrounding waters: Energy Threats to the World: Oil, LNG, shipping markets digest new risks after Strait of Hormuz attack
  • 1 day As Iran Nuclear Deal Flounders, France Turns To Saudi For Oil
  • 4 hours Middle East on brink: Oil tankers attacked off Oman
  • 23 hours The Magic and Wonders of US Shale Supply: Keeping energy price shock minimised: US oil supply keeping lid on prices despite global risks: IEA chief
  • 9 hours Russia removes special military forces from Venezuela . . . . Maduro gone by September ? . . . Oil starts to flow ? Think so . .
  • 1 day Never Knew Gasoline Prices were this important!
  • 14 hours Plants are Dying
  • 7 hours The Latest: Iranian FM Says US Cannot Expect To ‘Stay Safe’
  • 21 hours We Are Better Than This
  • 9 hours Emmissions up, renewables nowhere
  • 2 days Britain makes it almost 12 days with NO COAL
  • 2 days Middle East Attack Jolts Oil-Import Dependent Asia

Norwegian Firm Reports 60% Oil Production Growth In Kurdistan

Kurdistan

Norwegian oil and gas operator DNO ASA has boosted its oil production at the Tawke license in Iraq’s northern Kurdistan region by two-thirds to 25,000 bpd, the company said on Tuesday, after completing a well testing program at the Peshkabir oil field.

The Peshkabir-4 well has started to produce at a rate of 10,000 bpd, the Norwegian company said, adding that the Peshkabir-5 well, completed last month, is currently undergoing final testing. DNO plans to bring the fifth well online in August and expects to exceed its 2018 summer production target of 30,000 bpd at Peshkabir.

“And we expect Peshkabir to continue to surprise to the upside,” DNO’s Executive Chairman Bijan Mossavar-Rahmani said in the company statement.

The firm, which holds a 75-percent interest in the Tawke license, is drilling a sixth and a seventh well at the Peshkabir oil field, which was brought into production last year.

DNO and its minority-interest partner Genel Energy plc hold the Tawke license, which contains the Tawke and Peshkabir fields. Together, oil production from the two fields has averaged 106,000 bpd year-to-date.

In April this year, DNO said that it was expanding and accelerating its oil production operations in Kurdistan, alongside building up exposure in the North Sea.

Effective April 10, 2018, DNO added a third license in Kurdistan, assuming the operatorship of the Baeshiqa license with a 40-percent interest alongside ExxonMobil, Turkish Energy Company, and the Kurdistan Regional Government.

Meanwhile, Iraq—OPEC’s second-biggest oil producer after Saudi Arabia—is still in talks with Turkey and the Kurdistan regional authorities about resuming exports from the Kirkuk oil fields through the Ceyhan pipeline on Turkey’s Mediterranean coast. As of early July, production at the Kirkuk oil fields stood at around 220,000 bpd, all of which is being sent to local refineries.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News