Norwegian oil and gas operator DNO has discovered oil in Peshkabir-2 well’s Cretaceous horizon in the Peshkabir field, currently being drilling in the Kurdistan Region of Iraq.
Genel Energy, mentioned that it expects a decline in production at its Kurdish oil fields.
Genel Energy, a major oil investor in the Kurdish region in Iraq, said that it was optimistic for its economic prospects for 2016 in spite of the decline in oil prices and the security situation in Iraq.
Genel Energy says the SM-1 exploration well on the Sidi Moussa permit offshore Morocco is being P&A’d after encountering oil in fractured and brecciated cavernous Upper Jurassic carbonates.
London-listed Genel Energy is set to gain a 23% stake in the in the Bina Bawi exploration licence in the Kurdistan region of Iraq.