Genel Energy is the largest holder of reserves and resources in the Kurdistan Region of Iraq, where we have been operating for over a decade, and one of the largest independent oil producers on the London Stock Exchange.
Genel Energy's strength is based on our low-cost assets – the Taq Taq and Tawke PSCs contain combined gross 2P reserves of over 550 million bbls. Net production in 2019 averaged 36,250 bopd.
Production from these assets is among the lowest cost in the industry, and generates material free cash flow that funds our growth plans, with enough remaining to underpin an increase in our already significant dividend.
We have a Board and management team comprised of individuals with experience at leading international energy businesses, and people that have a deep understanding of local and regional politics with strong longstanding relationships with key stakeholders.
With a focus on retaining financial flexibility, Genel also continues to pursue further growth opportunities.
We aim to have a positive and sustainable impact on the Kurdistan Region of Iraq both by growing the production of the hydrocarbons that fuel the economy and directly supporting the communities in which we operate by improving infrastructure and providing opportunities.
bopd net production in H1 2019
mmbbls net 2P reserves