Genel Energy PLC (GENL) Genel Energy PLC: Update on Tawke PSC 10-Feb-2022 / 07:00 GMT/BST Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.

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10 February 2022

Genel Energy plc

Update on Tawke PSC

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

As previously reported, gross production at the Tawke licence averaged 108,700 bopd in 2021. The Peshkabir field contributed 61,800 bopd, and the Tawke field 46,900 bopd.

Drilling at the Tawke field resumed in Q3 2021 after an 18-month pause, during which time production decline was partially offset by gas injection and workovers.

DNO expects the ramp up in drilling activities to maintain Tawke licence gross production at around 105,000 bopd during 2022.

In 2021, a total of 7.6 billion cubic feet (461,500 tonnes of CO2) of otherwise flared Peshkabir gas was captured and injected into the Tawke field in 2021.

-ends-

For further information, please contact:

Genel Energy 
                                       +44 20 7659 5100 
Andrew Benbow, Head of Communications 
 
Vigo Communications 
                                       +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). The Company is one of the largest London-listed independent hydrocarbon producers, 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 Sarta, Taq Taq, and Tawke licences in the Kurdistan Region of Iraq, providing financial resilience that allows investment in growth and the payment of a material and sustainable dividend, even at a low oil price. Genel also continues to pursue further growth opportunities. For further information, please refer to www.genelenergy.com.

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ISIN:          JE00B55Q3P39, NO0010894330 
Category Code: MSCM 
TIDM:          GENL 
LEI Code:      549300IVCJDWC3LR8F94 
Sequence No.:  142058 
EQS News ID:   1278849 
 
End of Announcement  EQS News Service 
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February 10, 2022 02:00 ET (07:00 GMT)

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