London-listed Genel Energy has boosted its position in Iraqi Kurdistan by securing significant stakes in two promising blocks from US supermajor Chevron.
Genel shares soared more than 5% on Monday after news of the deal that will give it a 30% stake in the Sarta licence.
Sources in the Kurdistan Regional Government (KRG) Oil Ministry said Sarta is expected on stream in the second half of 2020 starting at 15,000 barrels per day before a quick ramp up to 20,000 bpd.
