Genel Energy (LON:GENL) has seen net production volumes of over 100,000 barrels per day (bpd) in Kurdistan during peak periods.
Average net production during the first six months of the year was 88,800 bopd, up 41% from the same period in 2014. For May and June the figure was 95,600 bopd.
This morning the oil company repeated production guidance of 90,000 to 100,000 barrels per day for 2015.
Some 185,300 bopd of gross production from Genel’s part-owned Taq Taq and Tawke fields is currently exported via pipeline, while about 40,000 bopd is sold domestically.
Genel told investors that it expects first half revenues in the order of US$200mln.
Crude sales prices averaged US$42 per barrel during the period, with the export price between US$45 and $40 per barrel, and domestic sales priced between US$36 and US$44 per barrel.
Full revenue guidance of US$350mln to US$400mln was maintained by the company, and that is based on an assumed average oil price of US$50 for the year.
"Production has grown rapidly in the first half of the year,” said Tony Hayward, who is moving up to the role of Genel’s chairman following the resignation of Rodney Chase.
Hayward added: “This increase has been integral in helping the Kurdistan Regional Government achieve its export goals, and the KRG is firmly committed to ensuring companies are paid in full for their production.
“Over 600,000 bopd of exports are now flowing to Ceyhan and, as distribution of the resulting revenues stabilises, the KRG is moving towards a financial position from which to make export payments to contractors.”