Genel Energy has re-joined IOGP. The company is one of the largest London-listed independent oil producers and is the largest holder of reserves and resources in the Kurdistan Region of Iraq, where it has been operating for over a decade.
Genel has highly cash-generative oil production from the Taq Taq and Tawke licences, with material growth potential from other assets in the portfolio. In the first half of 2019, Genel’s working interest production averaged 37,400 barrels of oil per day.
“Production from these assets is among the lowest cost in the industry and generates material free cash flow”, the Company says, adding “We aim to have a positive and sustainable impact on the Kurdistan Region of Iraq both by growing the production of the hydrocarbons that fuel the economy and directly supporting the communities in which we operate by improving infrastructure and providing opportunities.”
Genel Energy also has interests in Morocco and Somaliland. The Company’s IOGP Member Representative is Vrijesh Kumar Gupta, Head of HSE and Risk Management.