Last updated: 26 May 2017 04:29 GMT
Our strategy for growth aims to deliver sustained value creation for shareholders.
As we pursue our strategy, the way in which we conduct ourselves with our host communities and governments is crucial to our success as a business, and underpins everything that we do. Our record on health, safety and the environment is a source of pride for Genel, and we strive to ensure that our operations provide benefits for those communities in which we operate.
Oil production in the KRI is managed to ensure long-term value creation, maximising production over the life of the field and investing at an appropriate level to the external environment. Our Miran and Bina Bawi fields contain an estimated 11 tcf of mean raw gas resources, the commercialisation of which has the potential to be transformational for both Genel and the KRI.
We are committed to realising the value in our portfolio through a focused drilling programme, exploring, appraising and developing our assets, with the flexibility in our portfolio allowing us to manage expenditure appropriately.
We continue to look to leverage the skills and knowledge of the management team and identify upstream assets that would add to reserves and/or resources and complement the existing KRI position.
The strength of our management team, and an experienced Board, provides the expertise to grow the business and the governance necessary to maintain the integrity of the Company and effectively manage risk.
The Company aims to retain a strong balance sheet and flexibility in our capital structure in order to pursue its strategic objectives and underpin future growth. We continue to evaluate and evolve our capital structure to reflect the needs of the business, with a view to returning capital to investors when appropriate.