On improved security conditions, Genel Energy returns its worker to Iraqi Kurdistan

21/09/2014

Genel Energy Plc (GENL), the largest oil producer in Iraqi Kurdistan, is returning workers to the region’s fields after security improved.
The London based company stated, “The decision to resume full operations has been made following a close monitoring of the situation.”
Genel, which removed inessential personnel from non-producing assets in August, said output wasn’t affected and it had been pumping about 234,000 barrels of oil a day from its fields.
The U.S. expanded its air strikes against Islamic State militants, while President Barack Obama plans to rally Sunni Arab states to help him defeat the insurgents. Kurdistan explorers including Oryx Petroleum Corp. and ShaMaran Petroleum Corp. have also resumed operations in the region.

Last Update:: 21/09/2014

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