Genel cuts Kurdish region capex

摘要

London-listed Genel Energy, which operates the 125,000 b/d Taq Taq field in northern Iraq’s Kurdish region, has cut its capital expenditure (capex) guid- ance for 2015 by 70pc to $200mn- 250mn because of lower oil prices. The firm’s plans to boost capacity at the field to 150,000 b/d are on track for completion this quarter. But this is a 50,000 b/d reduction in the original target for this year (WPA, 19 December, p3).