Genel Energy is the largest holder of reserves and resources in the Kurdistan Region of Iraq, with oil production that forms a vital component of KRI exports.
Working interest production from Taq Taq and Tawke increased 22% to reach 85,000 bopd in 2015, making us the largest independent oil producer listed on the London Stock Exchange.
Our oil production in the KRI is managed to ensure long-term value creation, with production maximised over the life of the field and investment made at a level appropriate to the external environment. The suspension of investment in 2015 has led to a reduction in production, and guidance for 2016 is set at 60-70,000 bopd.
Genel's world-class Miran and Bina Bawi gas fields are set to be developed, and will make the KRI an important regional gas player. In addition, there is significant potential in our exploration portfolio, both in the KRI and Africa.