GENEL ENERGY (LON:GENL) Genel Energy PLC: Liftings underway at Sarta
Transparency directive : regulatory news
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Genel Energy PLC (GENL)
2 December 2020
Genel Energy plc
Liftings underway at Sarta
Genel Energy plc ('Genel' or 'the Company') is pleased to announce that, following first oil production last week, first liftings have taken place from the Sarta field (Genel 30% working interest).
The Sarta-3 well is producing at an initial rate of over 5,000 bopd, with an API gravity of c.27 degrees, in line with expectations at this stage. Tanker loadings are now underway, with oil being transported to Khurmala for offloading into the export pipeline.
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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.
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| ISIN: | JE00B55Q3P39 |
| Category Code: | MSCM |
| TIDM: | GENL |
| LEI Code: | 549300IVCJDWC3LR8F94 |
| Sequence No.: | 88849 |
| EQS News ID: | 1152049 |
| End of Announcement | EQS News Service |
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