Genel is committed to producing low carbon intensity and high net margin barrels that will characterise industry leading oil and gas producing companies in a sustainable world. Genel has the right assets, in the right locations, with the right footprint, and in the hands of the right people, to play an important role in the energy transition.

Our resilience is the result of significant steps we have taken to minimise our carbon emissions, including partnering on the first gas reinjection project in the KRI. We will continue to place the management of GHG emissions at the forefront of our business, with each asset being actively managed to minimise life of field emissions.

Our energy efficiency and flaring management practices have also been formalised in a GHG Emissions Management Standard that emphasises an asset life-cycle approach to establishing a carbon budget that aligns with the Paris Agreement 1.5°C pathway. Finally, to help track and monitor our progress on this journey we are committed to reporting our GHG emissions on an annual basis and to using the best GHG accounting practices.

Our 2020 carbon intensity of 13kg CO2e/bbl is well below the industry average of c.20kg CO2e/bbl, and while this is set to temporarily increase in the short-term given the beginning of production at Sarta, we are already taking steps to evaluate gas management plans for the Early Production Facility at the site.

Given our low-cost and low-carbon barrels, and the positive social impact our operations have on the KRI, it is our belief that Genel has the right portfolio to continue meeting future oil demand and delivering value to our shareholders as a socially responsible contributor to the global energy mix.