Genel Energy PLC: Update on Tawke PSC (1768983)

Genel Energy PLC (GENL) 
Genel Energy PLC: Update on Tawke PSC 
09-Nov-2023 / 07:00 GMT/BST 
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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 USD30s 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 
 
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For further information, please contact: 
 
Genel Energy 
                                       [phone] 
Andrew Benbow, Head of Communications 
 
Vigo Consulting 
                                       [phone] 
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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ISIN:          JE00B55Q3P39, NO0010894330 
Category Code: MSCM 
TIDM:          GENL 
LEI Code:      549300IVCJDWC3LR8F94 
Sequence No.:  283645 
EQS News ID:   1768983 
 
End of Announcement  EQS News Service 
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November 09, 2023 02:00 ET (07:00 GMT)