HKN Energy makes progress in Iraq
The Kurdistan Regional Government of Iraq (KRG) has formally approved HKN Energy's Sarsang development plan, which is scheduled to increase production to 50,000 barrels of oil per day.
Kurdistan
Gulf Keystone aims to spread net to boost leadership team
Gulf Keystone is to hold a special meeting next month which aims lift current rules that restrict the company to appointing UK-based directors only.
Genel receives payment for Iraq oil
Genel Energy continued its receipt of payments for oil exported through the Kurdistan region of the Iraq-Turkey pipeline.
Genel hails turning point for oil receipts in Kurdistan
Genel Energy said it had reached a turning point as it marked the beginning of stabilised payments for its oil by the Kurdistan Regional Government in northern Iraq.
Gulf Keystone gets $12million for Shaikan crude exports
Gulf Keystone, which operates the world class Shaikan field in the Kurdistan Region of Iraq, has received a payment of $15 million (US$12 million net to Gulf Keystone) for crude oil exports.
Gulf Keystone passes landmark 15 million barrels of oil in Iraq
Gulf Keystone said production from the Shaikan field in the Kurdistan region of Iraq has now surpassed 15 million barrels.
Genel Energy agrees to buy OMV’s stake in Kurdistan field
Genel Energy has struck a deal with Austrian producer OMV to acquire its stake in a field in the Kurdistan Region of Iraq. The company will acquire a 35% share in the Bina Bawi field with an upfront payment of $5million. Genel Energy said a contingent payment of $70million will be payable once gas production exceeds the agreed threshold volumes from the Miran and Bina Bawi fields.
Gulf Keystone hires UK MP Zahawi
Oil company Gulf Keystone has appointed British MP Nadhim Zahawi as its chief strategy officer.
DNO profits and production boosted in second quarter
DNO saw a profits boost in the second quarter of the year up from the previous three months. The Norwegian oil and gas operator said there had been an increase from $26million to $55million while its net loss was $40million for the second quarter. The company has also hit record production levels from the Tawke field in the Kurdistan Region of Iraq with output averaging 153,346 barrels of oil per day (bopd).
Iraqi Kurdistan says oil pipeline sabotage cost it $501 mln
Repeated sabotage by "organised gangs" of the oil pipeline from northern Iraq to Turkey has cost the autonomous Kurdistan region $501 million since July 1, its ministry of natural resources said on Tuesday. The flow of oil is currently suspended due to a theft attempt on the pipeline, which runs to the Turkish port of Ceyhan from fields in Iraq's Kurdish north and Kirkuk. The pipeline was previously idled for a week after being blown up by members of the Kurdistan Workers' Party (PKK) in late July, when Turkey began bombing the outlawed group in northern Iraq.
Genel Energy earnings up in Kurdistan
Kurdish oil producer Genel Energy has reiterated its commitment to the region, as it revealed its earnings are up for the first half of the year.
Gulf Keystone hits record production in Iraq
US-operator Gulf Keystone has leveraged record daily production from its Iraqi assets.
Gulf Keystone rises most in five years in London on sale talks
Gulf Keystone Petroleum Ltd. gained the most in more than five years in London after saying it’s in talks with parties on a possible sale of assets or the company. The oil explorer focused on Iraq’s Kurdistan region rose as much as 61 percent, the biggest gain since Aug. 25, 2009, and was up 57% at 55.75 pence by 9:55 a.m.
Kurd oil producers resort to $30 sales as export income stalled
Foreign oil producers in Iraqi Kurdistan are resorting to selling crude at about $30 a barrel in the domestic market as the government hangs on to companies’ export earnings amid weaker world prices and a costly battle with Islamic State. “The government’s announcement was that there would be payments coming,” said Bijan Mossavar-Rahmani, executive chairman of Norwegian producer DNO ASA, said in an interview in Oslo. “That payment I think got disrupted because of lower prices and the resolution of the budget issues.” That’s forcing DNO to increase sales to the local market.
Gulf Keystone Petroleum hits production target
Gulf Keystone Petroleum said seven wells are now producing at its Shaikan production facilities. A further well is expected to come online this month in the Kurdistan region of Iraq where operations are taking place. The company said total daily production has been gradually increasing since last month, with the company’s 400,000 gross barrels of oil per day target being reached shortly before New Year.
Marathon Oil makes Kurdistan discovery
Marathon oil has made a discovery at its Harir Block in the Kurdistan region of Iraq. The company said it had hit oil and gas in its Jisik-1 exploration well. The site, 40 miles northeast of Erbil, was drilled to a total depth of 15,000 feet and oil and gas was noted in an extensive gross interval in both the Jurassic and Triassic reservoirs.
Gulf Keystone on track with oil production in Iraq
Gulf Keystone Petroleum is on track to produce 40,000 barrels of oil per day (bopd) by the end of the year at its Shaikan facilities in the Kurdistan region of Iraq. The company said its production levels are stable, averaging 23,000 bopd from three wells at PF-1 and two wells at PF-2. Civil works are also ongoing to connect the Shaikan-7 and -8 wells to PF-1.