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  • Genel Update On Tawke PSC FINAL 4

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    Ayman Dlshad
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    The document provides an update on activity at the Tawke PSC in Kurdistan Region of Iraq, where Genel Energy has a 25% working interest. It states that following the reopening of the Iraq-Türkiye Pipeline in July, the operator has gradually reopened the Tawke and Peshkabir fields and increased deliveries to local trading companies. Gross production from the Tawke license totalled 25,984 bopd in Q3 2023, and output has doubled so far in Q4. Genel's contractual entitlement is currently around half of produced volumes and is sold at prices in the mid $30s per barrel.

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    The document provides an update on activity at the Tawke PSC in Kurdistan Region of Iraq, where Genel Energy has a 25% working interest. It states that following the reopening of the Iraq-Türkiye Pipeline in July, the operator has gradually reopened the Tawke and Peshkabir fields and increased deliveries to local trading companies. Gross production from the Tawke license totalled 25,984 bopd in Q3 2023, and output has doubled so far in Q4. Genel's contractual entitlement is currently around half of produced volumes and is sold at prices in the mid $30s per barrel.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    7 views1 page

    Genel Update On Tawke PSC FINAL 4

    Uploaded by

    Ayman Dlshad
    The document provides an update on activity at the Tawke PSC in Kurdistan Region of Iraq, where Genel Energy has a 25% working interest. It states that following the reopening of the Iraq-Türkiye Pipeline in July, the operator has gradually reopened the Tawke and Peshkabir fields and increased deliveries to local trading companies. Gross production from the Tawke license totalled 25,984 bopd in Q3 2023, and output has doubled so far in Q4. Genel's contractual entitlement is currently around half of produced volumes and is sold at prices in the mid $30s per barrel.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    of 1

    9 November 2023

    Genel Energy plc

    Update on Tawke PSC

    Genel Energy plc (‘Genel’ or ‘the Company’) notes that DNO ASA, as operator of the Tawke PSC (Genel
    25% working interest), has today issued an update on licence activity.

    Following closure of the Iraq-Türkiye Pipeline in March, the Operator gradually reopened the Tawke
    and Peshkabir fields and stepped up deliveries to local trading companies in the Kurdistan Region of
    Iraq.

    The Tawke field was reopened on 18 July, and gross production from the Tawke licence in Q3 2023
    totalled 25,984 bopd. Production continues to increase; so far in the fourth quarter output is averaging
    double the level of the third quarter, with the Peshkabir field having restarted production on 16
    October.

    The DNO-Genel contractual entitlement, currently around one-half of volumes produced, is sold at
    prices that vary narrowly in the mid $30s per barrel, and payments are made in advance before any
    oil is delivered. These payments more than covered operational spend in Q3.

    Genel will issue its trading and operations update in respect of the third quarter of 2023 next Tuesday,
    14 November 2023. Genel will host a live presentation on the Investor Meet Company (‘IMC’) platform
    on the day at 1000 GMT. The presentation is open to all existing and potential shareholders. Questions
    can be submitted in advance and investors can sign up to IMC
    via: https://www.investormeetcompany.com/genel-energy-plc/register-investor

    -ends-

    For further information, please contact:

    Genel Energy +44 20 7659 5100


    Andrew Benbow, Head of Communications

    Vigo Consulting +44 20 7390 0230


    Patrick d’Ancona

    Notes to editors:

    Genel Energy is a socially responsible oil producer listed on the main market of the London Stock
    Exchange (LSE: GENL, LEI: 549300IVCJDWC3LR8F94), with an asset portfolio that positions us well for
    a future of fewer and better natural resources projects. Genel has low-cost and low-carbon production
    from the Kurdistan Region of Iraq, and continues to seek opportunities to add new resilient and cash-
    generative assets to its portfolio. For further information, please refer to www.genelenergy.com

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