Genel Energy PLC (LSE:GENL, OTC:GEGYY) has confirmed its updated reserves report for 2022, ending December 31, 2022, with 92.2mln barrels of ‘proved and probable’ (2P) working interest reserves across its portfolio in the Kurdistan region of northern Iraq.
It comes after producing 11mln barrels of oil reserves during the year.
It breaks down as 78.9mln barrels for Genel’s share of reserves at its 25% owned Tawke licence, 10.5mln barrels at the Taq Taq asset (44% owned) and 2.8mln barrels for the Sarta asset (30% owned).
Across the portfolio, Genel’s net ‘proved, probably and possible’ (3P) reserves stood at 125.6mln barrels at the end of December.
The reserves assessment was undertaken by international petroleum consultants DeGolyer and MacNaughton.