Genel Energy is working with relevant parties to resume oil exports from the Kurdistan Region through pipelines. The company emphasizes the need for the Iraqi government to recognize and protect its contracts with the Kurdistan Region.
Genel Energy expects increased production from the Tawke field to cover its expenses. Production is set to reach 19,650 barrels per day, a 58% increase, and the company plans to sell its oil domestically at $35 per barrel. Revenue is projected at $74.7 million, with production costs around $17.6 million.
The company is also focusing on recovering outstanding debts from the Kurdistan Regional Government (KRG), with $107 million owed to it and $50 million in debts to the KRG. Gunel Energy operates the Tawke and Peshawar fields in partnership with Norway’s DNO.
