Genel Energy Sees Significant Output Boost in 2019



Reuters

LONDON, Aug 7 (Reuters) - Iraqi Kurdistan-focused Genel Energy is likely to significantly increase its oil production guidance next year, Chief Financial Officer Esa Ikaheimonen said on Tuesday.

The output boost is expected to come from 11 wells currently being drilled in three fields in the region, eight of which are expected to begin producing this year.

Genel on Tuesday reaffirmed its 2018 production guidance of 32,800 barrels of oil per day.

"We maintained that guidance ...signalling that even with the existing level we would exceed guidance," Ikaheimonen told Reuters.

"There is a good chance that we enter the new year with a significantly updated level of production," he added.

(Reporting by Ron Bousso; editing by Jason Neely)



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