• 25% working interest

The Peshkabir discovery is located on the west side of the Tawke block PSC area, and is currently being appraised. The structure is a high amplitude anticline, which forms a mountain range on the surface with shallow layers outcropping to the surface on the flanks of the structure.

Production from the Peshkabir field in the Tawke licence in the Kurdistan Region of Iraq tripled to 15,000 bopd following completion of the Peshkabir-3 well testing, stimulation and clean-up program.

A total of 11 zones in a 1.2 kilometre horizontal section of Cretaceous and Jurassic reservoir in the Peshkabir-3 well were individually tested and flowed successfully, of which ten were oil zones and one a gas zone. The oil zones tested an average of 5,340 bopd per zone on a 64/64" choke, with the highest individual test rate of 7,200 bopd. A multi-zone combined production test totalled 12,500 bopd on a 128/64" choke from five zones.

As of December 2017, production from the previously drilled Peshkabir-2 well, in operation since May, together with that of the new Peshkabir-3 well, is processed through temporary test package facilities and trucked to DNO's adjacent Tawke field facilities for export.

In line with Genel’s strategy of investing in those areas that provide the best returns, the focus of drilling in 2018 will be on the Peshkabir field. A total of six wells are planned to be drilled this year, and field production is expected by the operator to reach 30,000 bopd by summer and continue to ramp up in the second half of the year. Following the signing of the Receivable Settlement Agreement, these are highly cash-generative barrels for Genel.

The first of the six wells, Peshkabir-4, is currently drilling, with results expected in Q2.