Strategy and Business Model

We aim to create value for our shareholders and wider society.

We create value by finding and monetising hydrocarbons, and generating cash flow. We strive to have the right people doing the right things. Our values – Integrity, Respect, Accountability, Collaboration and Ingenuity – are inherently linked to our business model and strategic success. If we deliver our values, we will deliver our ambition: To become a world-class independent E&P creator of shareholder value.

Generate cash

  • Growing low-cost production through rapid development and disciplined use of capital

Return excess cash to shareholders

  • Generating sufficient cash throughout the investment cycle to fund a material and progressive dividend

Invest in growth

  • Recycling capital into an expanding asset portfolio with the potential to deliver significant and sustained cash flow growth

Financial discipline

  • Investment in lower risk development of opportunities with high potential, with capex appropriate to external environment

Low-cost production

  • Low-cost, highly cash generative assets

Capital returns

  • A material and progressive dividend, affordable at low oil prices

Downside risk mitigation

  • Resilient to low oil price, flexible capex program
  • Prioritise capital allocation to assets with near term cash generation
  • Model that optimises capital exposure and payback

Capital velocity

  • Assets that rapidly return investment and allow recycling of cash into growth opportunities

Growing our resource base

Increasing reserves and resources through cost-effective development and appraisal campaigns, and selective acquisitions

Finance and portfolio management

Manage financial and business assets to provide flexibility in our capital structure in order to invest in growth and pay a material and progressive dividend

Development and production

Safely and efficiently deliver development projects that then generate material cash flows, for the benefit of both Genel and the communities in which we operate

Direct and indirect impacts:

Value for wider stakeholders (employees, suppliers and contractors, customers, the public)

Our business activities generate income for employers and revenue for suppliers

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Dividend and share value

We aim to create shareholder value through the development of assets, generation of free cash flow, and the payment of a material and sustainable dividend

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Contribution to local economy

We are a key contributor to the Kurdistan Region of Iraq

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Providing direct economic benefit to local communities 

Genel has focused on boosting local employment opportunities and building a supply chain with local companies

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Direct community development programmes

Genel aims to ensure that activities directly benefit the local communities in which we operate

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Socially responsible business practices

Acting with integrity and respect to support and sustain the communities in which we operate has always been central to Genel’s success. Key values guide our actions and we are committed to having the people, delivering the right actions, in the right way.

Risk management

Genel brings the same rigour to organisational risk management processes as we do to health, safety and the environment.

Strong corporate governance practices

Robust corporate governance is proven to provide benefits to a business and value to shareholders, and Genel has a strong Board overseeing all key business aspects.