• Snapshot Of Genel Energy

Snapshot of Genel Energy

Genel Energy’s core assets are located in the Kurdistan Region of Iraq. Our portfolio currently contains a working interest of 155 MMbbls of 124 reserves across four fields: Taq Taq, Peshkabir, Tawke, and Sarta. Net reserves and resources across the portfolio total 5.6 BNboe.

Genel has the balance sheet strength to invest in growth and maximise shareholder value, while still retaining sufficient strength to initiate a material and sustainable dividend policy. Unrestricted cash balances at 30 June 2020 were $355 million, with net cash of $57 million.

Below is a summary of Genel Energy’s interests divided by region.

Asset Genel Interest (%) Partners (%)

Kurdistan Region of Iraq

Taq Taq 44%, joint operator Addax 36%, KRG 20%
Tawke 25% DNO International 75% (operator)
Sarta 30% Chevron 50% (operator), KRG 20%
Qara Dagh 40%, operator Chevron 40%, KRG 20%
Miran  100%, operator
Bina Bawi  100%, operator

Morocco

Sidi Moussa 75%, operator ONHYM 25% (carried through Exploration Period)  

Somaliland

SL1013 100%, operator
Odewayne  50%, operator  Sterling Energy 40%, Petrosoma 10%