Genel Energy PLC
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- Genel Energy plc is an independent oil and gas exploration and production company focused on low-cost production assets in the Kurdistan Region of Iraq (KRI) and exploration assets in Oman, Morocco, and Somaliland. The company holds a 25% working interest in the Tawke Production Sharing Contract (PSC), encompassing the Tawke and Peshkabir fields, which produce 23-27 API oil from multiple Mesozoic and Tertiary reservoirs with industry-leading operating costs of approximately $4 per barrel; it also maintains approximately 51% and 50% working interests in the SL10B13 and Odewayne blocks in Somaliland, a 40% non-operating interest in Oman's Block 54 (Karawan Concession) featuring discovered resources and exploration potential adjacent to existing production, and interests in Morocco licenses with high-graded prospects such as Banasa. Operations target sales primarily to the Kurdistan Regional Government (KRG) via domestic markets and export routes like the Iraq-Turkey Pipeline, serving international energy markets with net production averaging around 12,410 barrels of oil per day in recent years from 89 million barrels of proven plus probable (2P) net working interest reserves. Founded through a 2011 merger and listing on the London Stock Exchange with headquarters in London, United Kingdom, and a registered office in Jersey, the company operates regionally from offices in Istanbul, Erbil, and Hargeisa. Recent developments include signing an Exploration and Production Sharing Agreement (EPSA) in 2025 with OQ Exploration & Production for Oman's Block 54, initiating appraisal work such as well testing, drilling two new wells, and 3D seismic acquisition through 2028; advancing Somaliland exploration planning including the Toosan-1 well and community initiatives like a mobile medical clinic treating over 31,000 patients; completing seismic reprocessing and prospect re-ranking in Morocco with an ongoing farm-out program; and sustaining Tawke production near 80,000 gross barrels per day through well interventions amid KRG domestic sales focus.
Company News
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