Genel Issues Interim Management Statement


  • The final phase of the KRI independent oil pipeline infrastructure from Dohuk to Fishkhabur is now complete and tied-in to the Iraq-Turkey Pipeline.
  • Pipeline commissioning is ongoing with line-fill of the Taq Taq to Khurmala section complete.
  • Mechanical completion and full commissioning of KRI independent oil pipeline infrastructure still expected by end-2013.
  • Full oil export via KRI independent export infrastructure still expected in 1Q14.


  • Testing of the CS-11 well on the Chia Surkh licence (Genel 60% working interest, operator) is now complete with encouraging results. CS-11 was drilled 85m down-dip and 3km to the northwest of CS-10 and intersected a 170m gross hydrocarbon column in Miocene and Oligocene aged reservoirs.
    • The Miocene Jeribe formation previously tested in CS-10 has flowed at a cumulative rate of   3,550bpd of 50 degree API oil and 21mmscfd of gas from two zones.
    • The deeper Miocene Dibhan dolomite not penetrated in CS-10 flowed 2,060bpd of 50  degree  API oil and 16mmscfd of gas.
    • The Oligocene Euphrates Formation not penetrated in CS-10 flowed 1,600bpd of 47 degree API   oil and 9mmscfd of gas.
  • The Taq Taq Deep well (Genel 44% working interest, joint operator) commenced drilling in March 2013 with a planned target depth of 5,400m in order to assess the prospectivity of Jurassic and Triassic intervals below the main producing horizons in the field. Mechanical difficulties necessitated side-tracking of the original well bore. The side-track is now drilling ahead at c.3,300m with results expected in 1Q 2014.
  • A high impact offshore Africa exploration campaign is set to commence before year-end. The first well in the programme will target the Cap Juby structure on the Juby Maritime block (Genel 37.5% working interest) offshore Morocco. The primary target is a Middle Jurassic aged carbonate prospect more than 1,000m below the Upper Jurassic aged Cap Juby heavy oil discovery. The well is currently due to commence drilling late in the fourth quarter of 2013.
  • Offshore Malta, preparations are well advanced ahead of drilling the Tertiary aged Hagar Qim prospect on the Area 4 licence (Genel 75% working interest). The Noble Paul Romano rig, contracted by Genel for a 2 year period, will drill the well in c.450m of water with a target depth of 2,500m with an anticipated spud date of 1Q 2014.
  • In August 2013, the Company announced the acquisition of a 40% non-operated working interest in the Adigala Block, located in the northeast of Ethiopia.
  • Seismic operations in Somaliland have been temporarily suspended due to a deterioration in the security environment. Discussions continue with the Somaliland Government in order to facilitate a resumption of activity.

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