GENEL ENERGY (LON:GENL) Genel Energy PLC: Sarta-2 well enters production
Transparency directive : regulatory news
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Genel Energy PLC (GENL)
8 March 2021
Genel Energy plc
Sarta-2 well enters production
Genel Energy plc ('Genel' or 'the Company') is pleased to announce that the Sarta-2 well has entered production at the Sarta field (Genel 30% working interest), with gross field production now in excess of 10,000 bopd. Genel expects this figure to increase from the existing two producing wells, as optimisation of facilities configuration continues post production start-up.
The high-impact 2021 appraisal drilling campaign is on track to begin at the start of Q2, with the Sarta-5 and Sarta-6 wells set to be drilled back to back.
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Notes to editors: Genel Energy is a socially responsible oil producer listed on the main market of the London Stock Exchange (LSE: GENL, LEI: 549300IVCJDWC3LR8F94). The Company is one of the largest London-listed independent hydrocarbon producers, with an asset portfolio that positions us well for a future of fewer and better natural resources projects. Genel has low-cost and low-carbon production from the Sarta, Taq Taq, and Tawke licences in the Kurdistan Region of Iraq, providing financial resilience that allows investment in growth and the payment of a material and sustainable dividend, even at a low oil price. Genel also continues to pursue further growth opportunities. For further information, please refer to www.genelenergy.com.
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| ISIN: | JE00B55Q3P39, NO0010894330 |
| Category Code: | MSCM |
| TIDM: | GENL |
| LEI Code: | 549300IVCJDWC3LR8F94 |
| Sequence No.: | 94996 |
| EQS News ID: | 1173709 |
| End of Announcement | EQS News Service |
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