Shareholders at Genel Energy have rejected the election of three directors at today’s AGM.
Genel Energy has completed the Sarta-5 appraisal well but reservoirs appear tight and it failed to flow.
UK Prime Minister Boris Johnson has hosted Kurdistan Prime Minister Masrour Barzani in No. 10, with talks of energy security and supplies to Europe.
Iran’s Islamic Revolutionary Guards Corp (IRGC) fired missiles into a Kurdistan city, the autonomous region of Iraq, on March 12.
Genel Energy will seek compensation from Kurdistan Regional Government (KRG) following the cancellation of its Bina Bawi and Miran production-sharing contracts (PSCs).
Kurdistan has issued a notice to Genel Energy that it intends to terminate licences on Bina Bawi and Miran.
Dana Gas has reported strong first half results, with profits and cash flow rising from Egypt and Kurdistan.
Dana Gas has more than doubled its collections from Kurdistan and Egypt in the first half of the year.
ShaMaran Petroleum has struck a deal to buy an 18% stake in the Sarsang licence, in Kurdistan, from TotalEnergies.
Kurdistan has told producers that it is cutting payments for oil production, in light of continued pressure from COVID-19.
Gulf Keystone Petroleum has restarted its 55,000 barrel per day investment programme, with MOL, in Kurdistan.
DNO has bought out ExxonMobil’s 32% stake in the Baeshiqa licence, increasing the Norwegian company’s stake to 64%.
The Tawke licence in Kurdistan produced 110,300 barrels per day in 2020, DNO has reported, down from 124,000 bpd in 2019.
Gulf Keystone Petroleum (GKP) has appointed a new CEO, Jon Harris, who will replace Jón Ferrier.
Chevron has reached first oil at the Sarta field, in Kurdistan, from an early production facility.
Dana Gas has struck a deal to sell its Egyptian assets to IPR Wastani Petroleum for up to $236 million, including contingent payments.
DNO’s Peshkabir gas capture and injection project, in Kurdistan, has launched and already captured 1 billion cubic feet of gas injected, in a major move to reduce emissions.
Genel Energy reported an operating loss of $340 million for the first half of the year, but still generated $6.5mn of free cash flow.
Oryx Petroleum has cut operating expenses by 21% and is focused on slimmed down operations in Kurdistan for the near future.
Gulf Keystone Petroleum (GKP) intends to cut 30% of costs this year, including a workforce reduction of 40%.
DNO and Genel Energy have cut production estimates and spending this year in Kurdistan, although allowing that work could resume should prices strengthen.
Norway’s DNO has tested and appraised its Baeshiqa-2 exploration well in Kurdistan and is moving to spud an exploration well on a separate prospect on the same licence.
Dana Gas has taken a step towards splitting its upstream and midstream businesses off from each other, following approval for the plan from its shareholders at an AGM vote.
Gulf Keystone Petroleum does still intend to increase production to 55,000 barrels per day in Kurdistan but this is dependent on conditions improving, including the resolution of outstanding payments from the local government.
Dana Gas has received a number of bids for its Egyptian portfolio and will come to a decision by the end of March.