Genel Energy plc is a Jersey-incorporated company with offices in the UK, Turkey and Kurdistan. It was formed following the merger of Vallares PLC and Genel Energy International Limited in November 2011. The Company’s primary assets are oil and gas licences located in the Kurdistan Region of Iraq. Genel Energy plc has an interest in six Production Sharing Contracts (PSCs) with the Kurdistan Regional Government and is the largest producer of oil and the largest holder of reserves in the Kurdistan Region with interests in the Taq Taq and Tawke fields. The Group also has an exciting exploration portfolio across its six PSCs, which it aims to drill over the next 12-18 months.
Genel Energy plc has in-depth knowledge of conducting business in the Kurdistan Region and has strong relationships with both local and Turkish authorities. The Company has deep local operating experience in the Kurdistan Region having had in-country operations since 2002. By operating in the area since 2002, Genel Energy Group has demonstrated its commitment to the region and established itself as a key partner to all stakeholders, including operating partners and employees. The Directors believe that Genel Energy plc is in a strong position to participate and capitalize on the expected consolidation in the area. Having already delivered more production than any other company, Genel Energy holds a significant first-mover advantage in a region the US Geological Survey estimates has as yet undiscovered hydrocarbons of approximately 40 billion bbls of oil and 60 trillion cubic feet of gas. The region has not yet been explored fully and has numerous undrilled anticlines.
Genel Energy plc has core competencies that cover all key aspects of the life cycle of regional oilfields: exploration, appraisal, development and production.