The Tawke licence area in Iraq's semi-autonomous Kurdistan region contains the large Tawke and Peshkabir oilfields. After a two-and-a-half-year hiatus caused by the closure of the Iraq-Turkey export pipeline, oil production drilling is set to restart, following the pipeline's reopening.

Drilling and Production Plans

Drilling operations will recommence with a new production well targeting the shallow Jeribe reservoir in the Tawke field. Two rigs have been mobilised to drill a total of eight wells through 2026. The joint venture partners aim to achieve a 25% increase in gross production, targeting 100,000 barrels of oil per day. Current production stands at 80,000 barrels per day, maintained through continuous, low-cost well optimizations despite the drilling halt and reduced revenues.

Confidence and Partnership Structure

There is expressed confidence in the ability to extract significantly more oil from the fields, based on two decades of experience working the complex reservoirs. The ownership of the Tawke licence is split, with DNO holding a 75% operating interest and Genel Energy holding the remaining 25%.