Genel Energy

Middle East

Genel Energy recoups payment


Genel Energy today confirmed the Taq Taq field partners have received a gross payment of $10.22million from the Kurdistan Regional Government for oil sales during June 2017.

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Genel Energy agrees to buy OMV’s stake in Kurdistan field


Genel Energy has struck a deal with Austrian producer OMV to acquire its stake in a field in the Kurdistan Region of Iraq. The company will acquire a 35% share in the Bina Bawi field with an upfront payment of $5million. Genel Energy said a contingent payment of $70million will be payable once gas production exceeds the agreed threshold volumes from the Miran and Bina Bawi fields.