Genel is the largest independent oil producer and the largest holder of reserves in the Kurdistan Region of Iraq. With net 2P reserves of 445 mmbbls, we have the potential to grow production towards 500,000 boed by the end of the decade. Our high-impact exploration programme is one of the most widespread exploration campaigns being conducted in the KRI, targeting gross unrisked resources of 1.5 bn boe.
Genel have begun to establish a high impact African exploration portfolio – material positions in three new underexplored hydrocarbon basins. We have added to our core Kurdistan assets by acquiring material interests in PSCs in offshore Morocco, Malta, Somaliland and Côte d'Ivoire. These all fulfill our screening criteria, offering material equity positions in high quality exploration opportunities, targeting prospects with more than 250mmbbls of gross recoverable reserves, providing a sufficient depth of exposure to the hydrocarbon basin.
Positioned for growth
Annual Report & Accounts 2012