Genel Energy International is an independent oil and gas exploration and production company registered in Anguilla. The company is the signatory of the production sharing contract (jointly with Addax Petroleum International) with the Kurdish Regional Government of Iraq for the development of the Taq Taq development block and Kewa Chirmila exploration block in northern Iraq.

Following completion of 2D seismic data acquisition works at the Taq Taq field in March 2006, Genel Energy established Taq Taq Operating Company Limited jointly with Addax and implemented an initial appraisal and development drilling campaign consisting of six wells. The 3D seismic data acquisition programme within the Taq Taq licence area was also successfully completed. The short-term test results and flow rates obtained from all appraisal and delineation wells range from 17,000 bbl/d to 44,240 bbl/d production capacity. These results confirm that the daily production capacity in Taq Taq oilfield can reach up to 180,000-200,000 bbl/d.

Genel Energy and Addax started full field development at the end of 2010 with a previously approved plan in Taq Taq. Drills TT-12, 13 and 14 have been completed, and TT-15 is currently being drilled. The current processing capacity of the CPF at Taq Taq has reached 110,000 bbl/d with additional rental and test separators. Including the planned additional wells the production capacity is expected to reach 200,000 bbl/d.

A permanent camp will be constructed at the Taq Taq site to facilitate ongoing future operations. A tie in the pipeline to the export pipeline is planned for 2013.

The technical evaluation of currently available data of the three productive reservoir sequences of Cretaceous (from 1,600m to 2,100m) resulted in calculated oil in place of high quality (46-48 API degree gravity) in the Taq Taq structure to be around 1.9 billion bbl. The predicted amount of recoverable reserves during the life of the project from all productive zones is estimated to be approximately 450-500 million bbl, which confirms Taq Taq as a world class project. In addition to oil reserves, Jurassic and Triassic are deeper exploration targets for gas which was tested positively in the Taq Taq-1 well.

Tawke success
In 2007, Genel Energy undertook operations at the Kewa Chirmila Exploration Block through the Taq Taq Operating Company. After implementing a 2D seismic data acquisition programme it drilled a first exploration well at Kewa Chirmila Block, which was spudded in January 2009.

As of the end of 2009, Genel Energy acquired participating interests in five exploration and production licences in northern Iraq: namely Tawke (25 percent), Dohuk (40 percent), Miran (25 percent), Chia  Shurk (20 percent), and Ber Bahr (40 percent).

In Tawke, another producing asset of Genel Energy, the operator DNO carried out a seismic acquisition program and the first exploration well, Tawke-1, was drilled and discovered oil (23-27 API degree gravity) in several layers in 2005. To appraise the discovery, a 200sq km 3D seismic survey was acquired during 2006 and an appraisal well programme was initiated. Fifteen wells have now been drilled and the field is currently producing 70,000 bbl/d, with the expectation of 100,000 bbl/d by the end of the year.

An export pipeline to the Fish Kabour area has been installed for tie up to the Kirkuk-Ceyhan Export Lines. A topping plant with a capacity of 5,000 bbl/d is operational in the field.

Miran exploration
In October 2007, Heritage Oil Plc signed a production sharing contract with the Kurdistan Regional Government and was appointed operator of the Miran Block, with Genel nominated as third party participant. This block contains two large structures, Miran West and Miran East, which have been mapped from 2D seismic data. The Miran West structure is believed to be one of the larger structures in Kurdistan, with an estimated areal extent of approximately 200sq km, while Miran East has an estimated areal extent of 130sq km.
A drilling campaign commenced in Miran West in December 2008.  The first well MW-1, reached a total depth of 2,935m in March 2009 and tested approximately 3,000 bbl/d of 15 API oil from the Cretaceous Shiranish formation at a depth of approximately 800m. Tests were completed in August 2009 and the well was suspended as a future producer.

MW-2, was drilled approximately 3km northwest of the MW-1 well.  It commenced drilling in November 2009 to test Cretaceous, Jurassic and Triassic reservoirs. The Shiranish formation was found to be tight, while the Qamchuqa zone and the Triassic reservoir were found to be water-bearing.

Three separate intervals were tested in the Jurassic at an average rate of approximately 25 MMcfpd and a condensate gas ratio of 7 bbl/MMcf.  Heritage announced 13Tcf gas in place resource on the Miran structure.
3D data from a seismic campaign, commenced in December 2010 and completed in August 2011, is currently being processed. An additional 2D seismic acquisition totalling 214km was started in September 2011 covering the south-east of the Miran block.

Genel Energy also has 25 percent interest in Chia Surkh block covering approximately 985sq km on trend with existing discoveries. A shallow Jeribe discovery, drilled in the block in 1936, reportedly tested at 4,800 bbl/d.
The 307km 2D seismic programme was completed in 2010 to delineate the previously discovered oil reservoir and assist in the selection of the first well location. This is expected to be spudded during the fourth quarter of 2011.

The upcoming well has been designed as a future oil producer, and upon successful testing, the joint venture intends to promptly build early production facilities and bring the well online.

Expanding interests
Genel Energy is the operator in the Ber Bahr Block with 40 percent participating interest. Processing and interpretation of the previously acquired seismic data was completed and a drill location is identified on surface structure of the Ber Bahr well, which is expected to be spudded in the fourth quarter of 2011.

As the leading foreign oil company in the Kurdistan Region of Iraq, Genel Energy has successfully overcome severe competition in the market. In order to form a well-developed corporate foundation, the company has developed certain strategies in 2011; especially regarding the further improvement of its health, safety and environmental policies.

Genel Energy’s vision is to become a world-class exploration and production company by holding significant oil and gas reserves. To meet this corporate objective, Genel Energy defined an expansion strategy by entering into upstream and downstream opportunities in various geographic locations around the world.

In addition to the current project investments, Genel Energy has been pursuing further business opportunities in Iraq, the Middle East, North and West Africa and Central Asia.