At the end of October, we raised the prospect of a potential downgrade at Taq Taq following a disappointing production update from Genel.
On 24th January, Genel provided updated guidance of 24-31mbopd production average for the field in 2017, down from 60.2mbopd in 2016. The declining production from the field has already been well publicised, however the scale of the fall was unexpected.
A new field development plan and reserves estimates are being currently being prepared and expected to be published within the coming months. Capital investment...
