Genel Energy has announce that it has agreed with the Kurdistan Regional Government (KRG) a 12 month extension to the schedule for satisfying the conditions precedent ('CPs') contained within the Gas Lifting Agreements ('GLA's) for the Bina Bawi and Miran fields signed in February 2017. The revised date by which the CPs are to be […]
Genel Energy has announced that RPS Energy Consultants, as part of its work on the updated competent person's reports ('CPRs') for the Bina Bawi and Miran West fields (Genel 100% and operator), has finalised its evaluation of the contingent gas resources at both assets: The RPS evaluation confirms a significant upgrade to the combined 2C […]
By Ahmed Tabaqchali. Originally published by Iraq in Context; re-published by Iraq Business News with permission. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Between February 2017 and mid-October, Rosneft signed a number of deals with the Kurdish Regional Government (KRG) that established for it, […]
Genel Energy has announced that it has finalised documentation of previously agreed terms of Amended and Restated Production Sharing Contracts ('PSC's) and Gas Lifting Agreements ('GLA's) for both the Miran and Bina Bawi gas fields. The Amended and Restated PSCs and GLAs for Miran and Bina Bawi incorporate the commercial terms as announced in the […]
By John Lee. Genel Energy has issued the following trading and operations update in advance of the Company's full-year 2016 results, which are scheduled for release on 30 March 2017. In the statement (see below), the company said it expects a significant drop in production in 2017. Share were trading down 11 percent on Tuesday. […]
Genel Energy plc issues the following trading and operations update in respect of Q3 2016. The information contained herein has not been audited and may be subject to further review. Murat Özgül (pictured), Chief Executive of Genel, said: "Genel has received $163 million in cash proceeds during 2016, underpinning the drilling of successful production wells […]
By John Lee. In its trading update this morning, Genel Energy gave the following plans for its operations in Iraqi Kurdistan: The majority of planned activity and capital expenditure in the KRI is discretionary, which confers significant flexibility. The Company will leverage this flexibility and match activity to the level of cash proceeds received from […]
Shares in Genel Energy were trading down 6 percent on Thursday morning, following the company's announcement that revenues for the 6 months to 30 June 2015 were slightly below analysts expectations. The shares are still up about 10 percent since the KRG announcement that it had put payment plans in place. Highlights Our operations in […]
By John Lee. Genel Energy has issued the following trading and operations update in advance of the Company's half-year 2015 results, which are scheduled for release on 6 August 2015. Tony Hayward, newly-appointed Chairman of Genel, said: "Production has grown rapidly in the first half of the year, increasing 41% year on year, with operational […]
Shares in Genel Energy were down 3 percent on Wednesday morning following the company's trading and operations update in advance of the its full-year 2014 results, which are scheduled for release on 5 March 2015. The information contained herein has not been audited and may be subject to further review: HIGHLIGHTS A combination of low […]
Genel Energy has announced that it has reached an agreement with the Ministry of Natural Resources ("MNR") of the Kurdistan Regional Government ("KRG") for the development of the Miran and Bina Bawi gas fields. In addition, Genel has agreed key terms with OMV to acquire its 36% operated stake in the Bina Bawi gas field. […]
By John Lee. Genel Energy has issued the following trading update and preview ahead of a capital markets day presentation for analysts and investors in London commencing at 14:00 GMT. The presentation materials will be published at 12:00 GMT on www.genelenergy.com with the event broadcast live on the website, and available for download shortly afterwards. […]
