Somaliland

Somaliland is a highly prospective, onshore exploration province, and Genel is targeting resources of over two billion barrels of oil.

In August 2012, Genel was awarded an exploration licence for onshore blocks SL-10-B and SL-13 in Somaliland. Genel extended its presence in November 2012 with the acquisition of 50% participating interest in the Odewayne Production Sharing Agreement which covers blocks SL-6, SL-7, SL-10A.

Onshore Somaliland is a relatively unexplored region, with few exploration wells drilled. The total size of the blocks is approximately equivalent to the entire Kurdistan Region of Iraq.

A farm-out process relating to this highly prospective SL-10-B/13 block (Genel 100% working interest, operator) is ongoing, and there remains active engagement with potential partners with respect to the opportunity.