Sarta

Genel Energy PLC: Trading and operations update

Retrieved on: 
Monday, December 25, 2023
KRG, Genel Energy, Federal government of Iraq, Federal, Malik ibn Tawk, Petroleum industry, Miran, Language, PSC, Ministry, Oil, Bank, Sarta

Genel Energy plc ('Genel' or 'the Company') issues the following trading and operations update in respect of the third quarter and first nine months of 2023.

Key Points: 
  • Genel Energy plc ('Genel' or 'the Company') issues the following trading and operations update in respect of the third quarter and first nine months of 2023.
  • “Despite encouraging comments from senior politicians, the Iraq-Türkiye pipeline remains shut.
  • Good progress has been made in achieving consistency of domestic sales volumes, although pricing continues to be weak.
  • We remain confident that the pipeline exports will resume, and provide access again to international pricing.

Genel Energy PLC: Trading and operations update

Retrieved on: 
Tuesday, January 19, 2021
Well, Barrel, Sarta, Oil well, Units of measurement, Measurement, Science and technology

Gross production at the Tawke PSC averaged 110,280 bopd in 2020, of which Peshkabir contributed 52,710 bopd

Key Points: 
  • Gross production at the Tawke PSC averaged 110,280 bopd in 2020, of which Peshkabir contributed 52,710 bopd
    Production in Q4 2020 averaged 110,170 bopd, of which Peshkabir contributed 56,320 bopd
    There will be an active drilling campaign in 2021 on the Tawke licence, with up to eight new development wells set to be drilled and multiple workovers on existing producing wells to be undertaken in the drive to maintain production above 100,000 bopd
    First oil production from Sarta began in November 2020, and the Sarta-3 well has produced at an average of c.5,500 bopd so far in 2021
    Due to ongoing COVID-19 protocols, production from Sarta-2 is now expected in February.
  • A stable production level from both wells will be reached in Q1 2021
    The 2021 appraisal drilling campaign is targeting a material portion of the 250 MMbbls of existing contingent resources, and prospective resources, in Jurassic formations
    The campaign will begin at the start of Q2.
  • Sarta-5 and Sarta-6 will be drilled back to back, with results from the first well expected in Q3, and operations on both wells complete in Q4 2021
    Re-entry and deepening of the Sarta-1 (S-1D) well is expected around the middle of the year.
  • We continue to discuss this model with the KRG, and will update the market in due course
    Genel retains significant flexibility over its capital expenditure, and will ensure that expenditure is appropriate to the external environment.

Genel Energy PLC: First oil at Sarta

Retrieved on: 
Thursday, November 26, 2020
Genel Energy, Sarta, Stark Area Regional Transit Authority

Genel Energy plc ('Genel' or 'the Company') is pleased to announce first oil production from the Sarta field (Genel 30% working interest), less than 21 months after the acquisition of the stake was completed.

Key Points: 
  • Genel Energy plc ('Genel' or 'the Company') is pleased to announce first oil production from the Sarta field (Genel 30% working interest), less than 21 months after the acquisition of the stake was completed.
  • Production has begun at Sarta with first oil flowing from the Sarta-3 well into the Early Production Facility.
  • "First oil at Sarta is an important strategic and operational milestone for Genel, not least given the challenges presented by COVID-19 in 2020.
  • In that context, progressing Sarta to first oil has been a tremendous achievement and a testament to the alignment and co-operation of the field partners and contractors.

Genel Energy PLC: Trading and operations update

Retrieved on: 
Tuesday, November 3, 2020
Taq Taq, Sarta, Stark Area Regional Transit Authority, Oil well, Workover, Science and technology, Inventions

By the end of October 2020, two billion cubic feet of gas that otherwise would have been flared had been injected into Tawke, already delivering a positive production response at the field, and at the same time reducing field water production

Key Points: 
  • By the end of October 2020, two billion cubic feet of gas that otherwise would have been flared had been injected into Tawke, already delivering a positive production response at the field, and at the same time reducing field water production
    Taq Taq gross field production averaged 8,580 bopd in Q3, following the suspension of drilling activity in H1 2020
    As previously stated, activity at Taq Taq is focused on optimising cash flow.
  • Appropriate for the external environment, it is not expected that there will be any further drilling activity in 2020
    Despite the challenges of COVID-19, first oil is on track for Q4 2020
    Production will initially be from the Sarta-2 and Sarta-3 wells, and the workover of the former is now underway.
  • It is expected that a stable production level will be reached in Q1 2021
    Preparations for the 2021 appraisal drilling campaign, which is targeting a material portion of the 250 MMbbls of contingent resources in the Jurassic, are ongoing
    This appraisal campaign will begin with the Sarta-6 well in H1 2021, followed by the Sarta-5 well and Sarta-1D re-entry.
  • Well pad and road access civil works are well underway at both the Sarta-6 and Sarta-5 locations, and minor remedial civil works are also about to commence at the existing Sarta-1D site.