Genel Energy PLC: Update on Tawke PSC

29 July 2021

Genel Energy plc

Update on Tawke PSC

Genel Energy plc ('Genel') notes that DNO ASA, as operator of the Tawke PSC (Genel 25% working interest), has today issued an update on licence activity.

Gross operated Tawke licence production including the Tawke and Peshkabir fields averaged 110,300 bopd in Q2 2021 (112,000 bopd in Q1 2021).

DNO's gross production guidance for the Tawke licence for 2021 remains 110,000 bopd.

Q2 2021 Tawke licence gross operated production averaged 110,300 bopd, of which the Peshkabir field contributed 63,000 bopd (61,400 in Q1 2021) and Tawke field 47,300 bopd (50,600 in Q1 2021).

Five new wells scheduled at Peshkabir in 2021 in addition to workovers and interventions in existing wells.

With no new wells having come on production at the Tawke field in more than a year, the natural production decline has been partially offset by pressure support from reinjection of over 20 million cubic feet of gas per day from the Peshkabir field in addition to workovers and interventions of existing wells.

Genel will issue 2021 half-year results next Tuesday, 3 August.

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Notes to editors:

Genel Energy is a socially responsible oil producer listed on the main market of the London Stock Exchange (LSE: GENL, LEI: 549300IVCJDWC3LR8F94). The Company is one of the largest London-listed independent hydrocarbon producers, with an asset portfolio that positions us well for a future of fewer and better natural resources projects. Genel has low-cost and low-carbon production from the Sarta, Taq Taq, and Tawke licences in the Kurdistan Region of Iraq, providing financial resilience that allows investment in growth and the payment of a material and sustainable dividend, even at a low oil price. Genel also continues to pursue further growth opportunities. For further information, please refer to www.genelenergy.com.