Why invest

Genel’s aims to be a world-class creator of shareholder value, with a resilient business model and strategy that delivers a compelling mix of growth and returns.

This business model designed to shelter us from tough external conditions, with low-cost oil production, robust finances, and flexibility in our expenditure allowing us to pay a material dividend while retaining sufficient liquidity to capitalise on opportunities and take advantage of future upside.

Genel has a strong portfolio with an attractive mix of assets at complementary stages of their life cycle. Low-cost producing fields provide the capital to rapidly develop assets with material potential, which in turn will generate more cash to be quickly recycled into the next phase of growth.

Low-cost production

Genel is the only multi-licence producer in the Kurdistan Region of Iraq, with production of 32,100 bopd in H1 2020 from three fields – Tawke, Peshkabir, and Taq Taq, with an asset level breakeven of $30/bbl. Production is set to begin at Sarta, an asset with significant potential, in Q4 2020.

Strong balance sheet and resilient business model

Genel is resilient to a low oil price. Genel has significant capital allocation flexibility with limited commitments, is committed to retaining a strong balance sheet, and will ensure expenditure matches the external environment. Capital allocation is prioritised on those assets with near term cash generation, and our business model optimises capital exposure and payback.

Material opportunities for growth with multiple near-term catalysts

Genel has a balanced portfolio, with producing assets generating cash and material 2C resources with a clear and funded route to derisking. The resilience of our business also provides an opportunity, as more resilient businesses have more opportunities to grow, and there is cash available should the right opportunity arise.

A material and sustainable dividend

Genel’s low-cost production, flexible capital structure, and strong balance sheet with a net cash position, allows the payment of a material dividend.

A socially responsible operator

We recognise our need to provide the world with high-margin, low-carbon barrels that fit into a world of fewer and more efficient natural resources projects, as we continue to build on our aim of creating shareholder value over the long-term as a socially responsible contributor to the global energy mix.

  • Integrity

  • Respect

  • Accountability

  • Collaboration

  • Ingenuity