Genel Energy returns staffing to normal in Kurdistan

8th Sep 2014 09:08

Oil & gas group Genel Energy has begun returning staffing levels to normal in Kurdistan as political tensions in the Iraqi region have eased.Genel, headed up by former BP chief executive Tony Hayward, said it was returning its staff levels to normal following the temporary and precautionary step of withdrawing non-essential personnel from non-producing assets.It said the security situation in the region, which has been affected by the advance of Islamic militants, had significantly improved.Genel said production at its Taq Taq and Tawke sites had been entirely unaffected and had risen to record levels.Since the start of September combined production from Taq Taq and Tawke had averaged c.234,000 barrels of oil a day (bopd), with piped exports from both fields averaging about 182,000 bopd, boosted by improvements to the Kurdistan-Turkey pipeline.Shares in Genel ticked up 18.5p or 2.2% to 870.5p at 09:26 in London.