Genel Energy PLC: Update on Tawke PSC

10 February 2022

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.

As previously reported, gross production at the Tawke licence averaged 108,700 bopd in 2021. The Peshkabir field contributed 61,800 bopd, and the Tawke field 46,900 bopd.

Drilling at the Tawke field resumed in Q3 2021 after an 18-month pause, during which time production decline was partially offset by gas injection and workovers.

DNO expects the ramp up in drilling activities to maintain Tawke licence gross production at around 105,000 bopd during 2022.

In 2021, a total of 7.6 billion cubic feet (461,500 tonnes of CO2) of otherwise flared Peshkabir gas was captured and injected into the Tawke field in 2021.

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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.