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Norwegian oil and gas operator DNO and Turkish company Genel Energy have announced in separate statements that their production in Kurdistan, the Kurdish-populated region in Iraq, is expected to average 100,000 barrels of oil per day in 2020.

This is a result of declining oil prices and irregular export payments, caused by the response to the Covid-19 pandemic.

DNO and Genel Energy have cut production estimates and spending in Kurdistan this year, but have stated that work is ready to resume when prices strengthen again.

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By GlobalData