Presentation

Genel Energy is an independent E&P company focused on the Kurdistan Region of Iraq (KRI), where the company has been active since 2002. Genel is listed on the London Stock Exchange.

The company’s most important producing fields include Tawke, Peshkabir, Sarta and Taq Taq. Most of the fields have producer for several years, whilst Sarta entered operations last year. At year-end, Genel had 2P reserves of 117 mill bbl and 2C resources of 143 mill bbl. With an average working interest production of ~32,000 bbl/day in 2020, the company expects year-on-year production growth in both 2021 and 2022.

Capex guidance lies in the USD 150–200m range, focusing near-term investment in drilling the Sarta-5 and Sarta-6 wells, both of which are expected to be completed by YE’21.