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

Following a four-month shut-in triggered by the closure of the Iraq-Turkey Pipeline export route, DNO has partially restarted operations at the Tawke field and is currently selling its entitlement share of oil production to local trading companies.

DNO restarted partial oil production from the Tawke field to conduct well integrity and reservoir tests but has continued to produce to meet strong demand for Tawke oil. 

Tawke output is currently averaging around 40,000 bopd, of which one-half is delivered to the Kurdistan Regional Government as its entitlement and the balance is sold to local trading companies.

Prices vary by contract and average just over 50 percent of pre-closure levels but payments now are made in advance and directly to the operator.

Oil is transported by buyers from the DNO terminal with road tankers. 

The Peshkabir field, also within the Tawke licence, remains shut-in.

KeyFacts Energy: Genel Energy Iraq country profile