Genel Energy has agreed to buy stakes in the Chevron-operated Sarta and Qara Dagh blocks, in the Kurdistan Region of Iraq, for $60 million.
Genel Energy and DNO ASA confirmed payment for the Kurdistan Regional Government.
Genel Energy said today that a well drilled in the northern part of the Taq Taq field in Kurdistan has struck oil.
The BP boss who famously told reporters he wanted his life back after the Deepwater Horizon catastrophe in the Gulf of Mexico is stepping down as chairman of Kurdistan-focused oil and gas company Genel Energy.
Genel Energy (GENL) is to lose its chief financial officer while still struggling to find a replacement for Chairman Tony Hayward, it has been reported.
Genel Energy's chief executive said he was approaching 2017 with confidence as the firm was closer than ever to monetising oil exports from the Kurdistan Region of Iraq.
The Kurdistan Regional Government (KRG) has paid out for the Shaikan crude oil export sales in September.
The Tawke field partners have been paid, Genel Energy confirmed today.
Genel Energy today confirmed it expected lower daily outputs from the Tawke field than estimated.
Genel Energy has appointed Paul Schofield as the firm's new chief operating officer.
Gulf Keystone Petroleum has received $15 million payment from the Kurdistan Regional Government in Iraq for Shaikan crude oil exports in March.
Genel Energy has confirmed it is buying back $55.4million of bonds with a big chunk taken off their face value.
Troubled oil and gas explorer Genel Energy has received received a gross payment of $12.6 million from the Kurdistan Regional Government for oil sales during February 2016.
Genel Energy has downgraded estimated reserves from its assets in Iraq.
Genel Energy today confirmed it expected a $1billion impairment charge, after its estimated reserves in the Taq Taq field took a significant hit.
Genel Energy has received its fifth consecutive monthly payment for the oil its exports out of the country from the Taq Taq field in the Kurdistan region of Iraq, as well as a backpayment for oil that was previously exported.
Genel Energy said the Aigle-1X exploration well on the CI-508 licence offshore Côte d’Ivoire (Genel 24% working interest) is in the process of being plugged and abandoned after failing to encounter hydrocarbons. The completion of this well concludes Genel’s committed Côte d’Ivoire drilling programme.
The Kurdistan Regional Government has made the third consecutive payment to companies producing in the region this month.
Tony Hayward's Genel Energy is thought to be in thick of merger talks with African Global Energy (New Age).
Genel Energy continued its receipt of payments for oil exported through the Kurdistan region of the Iraq-Turkey pipeline.
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.
The world is awash in crude, but big oil companies are lining up to develop new fields in Iran even as they slash spending and abandon exploration elsewhere. One thing explains this paradox: cost.