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OIL AND GAS
Genel Energy says security has improved in northern Iraq
by Daniel J. Graeber
London (UPI) Sep 8, 2014


disclaimer: image is for illustration purposes only

British energy company Genel Energy said Monday it started returning staff to the Kurdish north of Iraq following improvements in the security situation.

"Genel's primary consideration is the safety and wellbeing of our employees," the company said in a statement. "The decision to resume full operations has been made following a close monitoring of the situation, and in consultation with the Kurdistan Regional Government, Foreign and Commonwealth Office of the British Government, and other well-placed authorities."

As U.S. airstrikes targeting terrorists with the Islamic State got under way in August, the company said it was taking the "prudent and precautionary step" of pulling non-essential staff from the Kurdish north.

The company said operations at the Taq Taq and Tawke oil fields in the Kurdish region of Iraq were safe and secure. Production from the two fields is unaffected by the violence and combined production is on a record pace, with an average of 234,000 barrels of oil per day since the start of September.

In terms of exports, the company said about 182,000 bpd was leaving the fields in the north.

Last week, the British government eased travel restrictions in northern Iraq as regional and international forces beat back the insurgent threat.

Canadian energy company Oryx Petroleum said "tangible improvements" in the Kurdish north of Iraq mean it can return to work at the Hawler license area.

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