Genel Energy - History

Genel Energy began operating in the Kurdistan Region in 2002 and has been instrumental in developing the local energy industry.

We were one of the first energy companies to engage with the Kurdistan Region after the Iraq war and through our licence at Taq Taq, the first company to execute a Production Sharing Contract (PSC) with what became the Kurdistan Regional Government (KRG). Genel Energy has since secured interests in six additional PSCs and established a high-quality production and exploration portfolio, while maintaining a positive working relationship with the KRG.

2002

Commenced  operations in  the Kurdistan Region with the first ever PSC for Taq Taq field.

2004

PSCs for the Tawke and Dohuk fields signed by DNO International.

2005

First new oil well drilled at Tawke field after 2003 Iraq invasion.
Entered into a farm-in agreement with Addax for Taq Taq and formed TTOPCO operating company.

 

2006

First exploration drilling at Taq Taq field Kewa Chirmila Exploration Block added to Taq Taq PSC.
Tawke field discovery made with Tawke-1 exploration well.

 

2007

First production from Tawke field.
KRG Petroleum Law approved.
Taq Taq field discovery made in July.

 

2008

First production on Taq Taq  with loading facility completed.

2009

Acquired 25% interest  in Tawke licence.
Acquired 25% interest  in Miran licence.
Acquired 40% interest  in Dohuk and Ber Bahr, and 20% interest in Chia Surkh licences.
Tie-in of Tawke pipeline  to Iraq northern  pipeline system.
First oil exports from  Taq Taq and Tawke commenced with the opening of the Kirkuk-Ceyhan pipeline.

2010

60 kbopd central processing facility begins operation at Taq Taq.
Studies undertaken for preparation of exploration drilling  on Dohuk.
3D seismic campaign commenced on Miran  in December 2010.
2D seismic acquired on Chia Surkh identifying and confirming several possible structures.

2011

Resumed oil exports from Taq Taq and Tawke following agreement  of a revenue sharing mechanism between the KRG and Iraqi Government.
Miran West 3, Peshkabir and Ber Bahr 1 exploration wells commenced.
Merger of Genel Energy International Limited with Vallares PLC.
Genel Energy plc listed on London Stock Exchange.
Dohuk exploration well.

2012

Announced upgrade of Tawke Fields reserves and resources by 78% to an estimated 509 mmboe.
Announced most comprehensive exploration and drilling programme in the Kurdistan Region to date.
Acquired 44% interest Bina Bawi exploration licence, Kurdistan Region.
Acquired 40% additional interest and operatorship in Chia Surkh.
Established a high impact African exploration portfolio through acquisition of material positions in Somaliland, Morocco, Cote D’Ivoire and Malta.
Increased working interest in Miran from 25% to 100% (pre-KRG back-in).

2013

KRI export pipeline infrastructure complete and in the commissioning phase. Volumes of KRI oil in storage at Ceyhan continue to grow
Turkey-KRG Gas Sales Agreement a significant milestone in the commercialisation of Miran and Bina Bawi gas fields
100% success rate on KRI exploration – Chia Surkh, Ber Bahr and Tawke Deep discoveries
Successful appraisal drilling at Bina Bawi increased mean contingent resources by 70%
Proven and probable reserves (2P) increased to 453 mmboe (2012: 445 mmboe), representing a reserve replacement ratio of 147%
Total working interest reserves and unrisked resources increased to 5.9 bnboe (2012: 5.4 bnboe)

2002

Commenced  operations in  the Kurdistan Region with the first ever PSC for Taq Taq field.

2005

First new oil well drilled at Tawke field after 2003 Iraq invasion.
Entered into a farm-in agreement with Addax for Taq Taq and formed TTOPCO operating company.

 

2007

First production from Tawke field.
KRG Petroleum Law approved.
Taq Taq field discovery made in July.

 

2009

Acquired 25% interest  in Tawke licence.
Acquired 25% interest  in Miran licence.
Acquired 40% interest  in Dohuk and Ber Bahr, and 20% interest in Chia Surkh licences.
Tie-in of Tawke pipeline  to Iraq northern  pipeline system.
First oil exports from  Taq Taq and Tawke commenced with the opening of the Kirkuk-Ceyhan pipeline.

2011

Resumed oil exports from Taq Taq and Tawke following agreement  of a revenue sharing mechanism between the KRG and Iraqi Government.
Miran West 3, Peshkabir and Ber Bahr 1 exploration wells commenced.
Merger of Genel Energy International Limited with Vallares PLC.
Genel Energy plc listed on London Stock Exchange.
Dohuk exploration well.

2013

KRI export pipeline infrastructure complete and in the commissioning phase. Volumes of KRI oil in storage at Ceyhan continue to grow
Turkey-KRG Gas Sales Agreement a significant milestone in the commercialisation of Miran and Bina Bawi gas fields
100% success rate on KRI exploration – Chia Surkh, Ber Bahr and Tawke Deep discoveries
Successful appraisal drilling at Bina Bawi increased mean contingent resources by 70%
Proven and probable reserves (2P) increased to 453 mmboe (2012: 445 mmboe), representing a reserve replacement ratio of 147%
Total working interest reserves and unrisked resources increased to 5.9 bnboe (2012: 5.4 bnboe)

2004

PSCs for the Tawke and Dohuk fields signed by DNO International.

2006

First exploration drilling at Taq Taq field Kewa Chirmila Exploration Block added to Taq Taq PSC.
Tawke field discovery made with Tawke-1 exploration well.

 

2008

First production on Taq Taq  with loading facility completed.

2010

60 kbopd central processing facility begins operation at Taq Taq.
Studies undertaken for preparation of exploration drilling  on Dohuk.
3D seismic campaign commenced on Miran  in December 2010.
2D seismic acquired on Chia Surkh identifying and confirming several possible structures.

2012

Announced upgrade of Tawke Fields reserves and resources by 78% to an estimated 509 mmboe.
Announced most comprehensive exploration and drilling programme in the Kurdistan Region to date.
Acquired 44% interest Bina Bawi exploration licence, Kurdistan Region.
Acquired 40% additional interest and operatorship in Chia Surkh.
Established a high impact African exploration portfolio through acquisition of material positions in Somaliland, Morocco, Cote D’Ivoire and Malta.
Increased working interest in Miran from 25% to 100% (pre-KRG back-in).

2002

Commenced  operations in  the Kurdistan Region with the first ever PSC for Taq Taq field.

2004

PSCs for the Tawke and Dohuk fields signed by DNO International.

2005

First new oil well drilled at Tawke field after 2003 Iraq invasion.
Entered into a farm-in agreement with Addax for Taq Taq and formed TTOPCO operating company.

 

2006

First exploration drilling at Taq Taq field Kewa Chirmila Exploration Block added to Taq Taq PSC.
Tawke field discovery made with Tawke-1 exploration well.

 

2007

First production from Tawke field.
KRG Petroleum Law approved.
Taq Taq field discovery made in July.

 

2008

First production on Taq Taq  with loading facility completed.

2009

Acquired 25% interest  in Tawke licence.
Acquired 25% interest  in Miran licence.
Acquired 40% interest  in Dohuk and Ber Bahr, and 20% interest in Chia Surkh licences.
Tie-in of Tawke pipeline  to Iraq northern  pipeline system.
First oil exports from  Taq Taq and Tawke commenced with the opening of the Kirkuk-Ceyhan pipeline.

2010

60 kbopd central processing facility begins operation at Taq Taq.
Studies undertaken for preparation of exploration drilling  on Dohuk.
3D seismic campaign commenced on Miran  in December 2010.
2D seismic acquired on Chia Surkh identifying and confirming several possible structures.

2011

Resumed oil exports from Taq Taq and Tawke following agreement  of a revenue sharing mechanism between the KRG and Iraqi Government.
Miran West 3, Peshkabir and Ber Bahr 1 exploration wells commenced.
Merger of Genel Energy International Limited with Vallares PLC.
Genel Energy plc listed on London Stock Exchange.
Dohuk exploration well.

2012

Announced upgrade of Tawke Fields reserves and resources by 78% to an estimated 509 mmboe.
Announced most comprehensive exploration and drilling programme in the Kurdistan Region to date.
Acquired 44% interest Bina Bawi exploration licence, Kurdistan Region.
Acquired 40% additional interest and operatorship in Chia Surkh.
Established a high impact African exploration portfolio through acquisition of material positions in Somaliland, Morocco, Cote D’Ivoire and Malta.
Increased working interest in Miran from 25% to 100% (pre-KRG back-in).

2013

KRI export pipeline infrastructure complete and in the commissioning phase. Volumes of KRI oil in storage at Ceyhan continue to grow
Turkey-KRG Gas Sales Agreement a significant milestone in the commercialisation of Miran and Bina Bawi gas fields
100% success rate on KRI exploration – Chia Surkh, Ber Bahr and Tawke Deep discoveries
Successful appraisal drilling at Bina Bawi increased mean contingent resources by 70%
Proven and probable reserves (2P) increased to 453 mmboe (2012: 445 mmboe), representing a reserve replacement ratio of 147%
Total working interest reserves and unrisked resources increased to 5.9 bnboe (2012: 5.4 bnboe)