Genel Energy Up following Interim Mgt Statement

INFASTRUCTURE AND EXPORTS

  • Exports to Turkey by truck commenced in January
  • volumes exported expected to rise to 15,000-20,000 bopd over the rest of the year
  • TTOpCo crude was lifted for the first time at Mersin, Turkey on the 16th April
  • Significant progress with infrastructure developments with Taq Taq-Khurmala pipeline complete. Second phase from Khurmala to the Fishkabur pump station on the border with Turkey is under construction with initial capacity 300,000 bopd. Expected to be complete in 4Q including potential conversion to oil of the Khurmala-Dohuk gas pipeline

DEVELOPMENT AND APPRAISAL

  • Continued momentum in developing and commercialising our highly prospective Miran and Bina Bawi assets
  • Miran West field development progressing for both oil and gas: Extended Well Test for oil commenced with production at c.3,000 bopd. FEED progressing and expected to complete 2Q. Gas sales negotiations ongoing
  • Bina Bawi Declaration of Commerciality on the field with Extended Well Test for oil commenced at an initial capacity of 5,000 bopd
  • Appraisal wells BB-4 and BB-5 each penetrated hydrocarbon columns in excess of 1100 metres confirming a gross hydrocarbon column in the structure of at least 1500 metres, with the potential for an additional 500 metres hydrocarbon column to spill point. Extensive test programmes are now underway on both wells
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