DNO increases oil production from Peshkabir field in Kurdistan

Norwegian oil and gas firm DNO has increased production from the Peshkabir field in the Tawke licence in Kurdistan, Iraq, by two-thirds.

The production now stands at 25,000 barrels of oil per day (bopd) and the increase comes after completion of the Peshkabir-4 well testing programme.

Peshkabir-4 has commenced production at a rate of 10,000bopd through a 72/64in choke with 790psi wellhead pressure.

Drilled to a measured depth of 3,525m, the well was designed as a high-angle well to assess the central part of the structure 4km west of Peshkabir-3.

Meanwhile, Peshkabir-5 has successfully proved the westward extension of the field.

Completed last month, the well is currently undergoing final testing and is expected to be brought online next month.

This will enable DNO to exceed its summer 2018 Peshkabir production target of 30,000bopd.

DNO executive chairman Bijan Mossavar-Rahmani said: “The pick-up in Peshkabir production puts new meaning to the fast in ‘fast-track’ in development of this field by the DNO team. And we expect Peshkabir to continue to surprise to the upside.”

The company, which is the operator of the field, is also drilling a sixth and a seventh well at the field, which was brought on production last year.

DNO owns a 75% interest in the Tawke licence, which contains the Tawke and Peshkabir fields, while Genel Energy holds the remaining 25%.

Genel Energy chief executive Murat Özgül said: “As the field is part of the Tawke PSC, these are high-value barrels to Genel that benefit from the receivable settlement agreement and will further bolster our free cash flow generation, which is currently over $10m a month.”