Genel Energy
Genel Energy plc is a publicly listed upstream oil and gas producer with a 25% working interest in the Tawke PSC in Kurdistan Region of Iraq, plus exploration assets in Oman and Somaliland and a pending acquisition of Capricorn Energy to add an Egyptian portfolio.
- Company typePublic
- Founded2002
- HeadquartersLondon, United Kingdom
- Headcount501–1,000
- GTM typeB2B
- OfferingServices
What Genel Energy does
Genel Energy plc is a Jersey-incorporated, UK tax-domiciled upstream oil and gas company listed on the London Stock Exchange under ticker LON:GENL. The company was founded in 2002 as the first firm to sign a Production Sharing Contract in the Kurdistan Region of Iraq and has invested $3.5 billion in the region over two decades. Its core producing asset is a 25% non-operated working interest in the Tawke PSC, comprising the Tawke and Peshkabir oil fields, operated by DNO with a 75% interest. Net working interest production averaged 17,520 bopd in 2025 with industry-leading operating costs of approximately $4/bbl, supported by the Associated Gas Injection (AGI) project which has saved approximately 2.3 million tonnes of CO2e emissions since inception.
The company monetizes crude oil production through domestic sales to the Kurdistan Region of Iraq market and exports via the Iraq-Turkey pipeline to international markets under PSC cost oil and profit oil allocation mechanics. Genel holds exploration interests in Oman Block 54 (40% working interest with OQEP) and Somaliland SL10B/13 (51% working interest), and has announced a $360 million acquisition of Capricorn Energy expected to close in H2 2026 to add an Egyptian Western Desert portfolio. The company ended 2025 with a net cash position of $134 million and maintains an $100 million senior unsecured bond (11% coupon, maturing April 2030). Operations are supported by 74 employees across offices in London, Istanbul, Hargeisa, and Erbil.
The customer base is concentrated on a small number of government and enterprise counterparties, primarily the Kurdistan Regional Government (with $88 million in overdue receivables as of Q1 2026) and DNO as joint venture operator. The company has paid over $200 million in dividends between 2019 and 2023 but suspended distributions following the Iraq-Turkey pipeline closure in March 2023. Strategic priorities are maintaining a strong balance sheet, restoring resilient cash generation from existing and newly acquired assets, and resuming regular dividend payments.
Genel Energy firmographics
Firmographics- Name
- Genel Energy
- Legal name
- Genel Energy plc
- Website
- https://genelenergy.com
- Company type
- Public
- Founded year
- 2002
- Operating status
- Operating
- Headcount range
- 501–1,000 employees
- Short description
- Genel Energy plc is a publicly listed upstream oil and gas producer with a 25% working interest in the Tawke PSC in Kurdistan Region of Iraq, plus exploration assets in Oman and Somaliland and a pending acquisition of Capricorn Energy to add an Egyptian portfolio.
- Ownership category
- akta.pro rank
Where Genel Energy is headquartered
LocationHeadquarters
- HQ city
- London
- HQ country
- United Kingdom
- HQ region
- Europe
Offices5 records
Markets served
Genel Energy business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Personnel, Supply Chain, Infrastructure, Others
Revenue model
- Oil and Gas Production Sales: Revenue generated from sale of crude oil produced from the Tawke PSC in Kurdistan Region of Iraq. Production sold domestically to KRI market and via exports through Iraq-Turkey pipeline. Post-acquisition will include Egyptian Western Desert production.
- Asset Management and Joint Venture Operations: Company holds working interests in production sharing contracts, receiving revenue share based on cost oil, profit oil allocation under PSC terms. 25% working interest in Tawke PSC operated by DNO.
Go-to-market motion2 records
Distribution channels2 records
Marketing channels4 records
Genel Energy product offering
Product offeringCore offering
Genel Energy is an upstream oil and gas company that produces and sells crude oil from its working interests in Production Sharing Contracts (PSCs). The company's core production asset is the Tawke PSC in the Kurdistan Region of Iraq (25% working interest, operated by DNO), which includes the Tawke and Peshkabir fractured carbonate fields. It also holds exploration interests in Oman (Block 54, 40% WI) and Somaliland (SL 10B/13, 51% WI), and has announced the acquisition of Capricorn Energy for diversification into Egypt's Western Desert.
Product overview
Genel Energy is a socially responsible oil producer operating a portfolio of production and exploration assets. The company's core production comes from the Tawke PSC (25% working interest) in Kurdistan Region of Iraq, which comprises the Tawke and Peshkabir oil fields. The company holds exploration interests in Oman Block 54 (40% working interest) and Somaliland SL 10B/13 (51% working interest). Additionally, the company has issued senior unsecured corporate bonds. The portfolio is managed through three strategic objectives: maintaining a strong balance sheet, resilient cash generation from production assets, and investment in new cash flows through exploration and acquisitions.
Differentiator
Problem solved
Functional benefit
Products and services
- Tawke PSC World-class production asset comprising the Tawke and Peshkabir fractured carbonate oil fields in the Kurdistan Region of Iraq, operated in tandem with DNO. Genel holds a 25% working interest (DNO 75%). Gross 2P reserves of 254 MMbbls, gross production averaged 70,090 bopd in 2025, and industry-leading operating costs of approximately $4/bbl. Combined Q4 2025 gross production with DNO exceeded 77,000 bopd.
- Somaliland SL 10B/13 Exploration licence in Somaliland with 51% working interest, representing significant potential for organic growth. The Toosan-1 exploration well is being prepared for drilling on the block.
- Oman Block 54 (Karawan Concession) Exploration block in the Sultanate of Oman on the eastern side of the South Oman Salt Basin with 40% working interest, partnered with OQ Exploration & Production SAOG (OQEP). Initial activities include re-entry and testing of the Batha West-1 discovery well, with 2026 plans for 3D seismic reprocessing and new acquisition.
- Senior Unsecured Corporate Bond Senior unsecured bonds issued by Genel Energy Finance 4 plc with $100 million outstanding, 11% coupon, maturing 9 April 2030, listed in Norway (ISIN: NO0013512384). $35 million tap issue successfully priced at 104% of nominal amount via Pareto Securities AS.
Quantifiable outcome
- Opex of ~$4/bbl at Tawke PSC
- +3 more outcomes
Companies that use Genel Energy
Customer profileNamed customers2 records
Segments3 records
Ideal customer profiles4 records
Genel Energy technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
Genel Energy partnerships and signals
Strategic signalPartnerships
Six partnerships are on record, tiered core and minor.
- OQ Exploration & Production SAOG (OQEP)coreGenel entered into an Exploration and Production Sharing Agreement with OQEP for Block 54 (Karawan Concession) in the Sultanate of Oman. Genel holds 40% working interest. Block is on eastern side of South Oman Salt Basin adjacent to existing production activities with existing discovered resources and further exploration potential.
- SHIFAT (Local Charity)minorPartnered with local charity SHIFAT for mobile medical clinic programme in Somaliland. Programme provided over 31,000 treatments across 20 villages in vicinity of Toosan-1 drilling project.
- Edna Adan University Hospital (EAUH)minorEAUH ran Genel's Mother and Child Healthcare Programme in Somaliland, providing vital educational sessions and essential health services to rural community members.
- CPC TaiwanminorGenel and CPC Taiwan co-funded an emergency water distribution project in Somaliland, delivering over 9 million litres of clean water to 147 villages across Togdheer, Saraar and Sanaag regions.
- DNOcoreDNO operates the Tawke PSC (75% working interest) where Genel holds 25% working interest. DNO and Genel produced over 77,000 bopd from Tawke and Peshkabir fields in Q4 2025. Joint venture partnership agreed plans for restart of investment drilling following 2-year hiatus.
- Kurdistan Regional Government (KRG)coreGenel signed first PSC in Kurdistan Region of Iraq in 2002, becoming the first company to do so. Operates under Production Sharing Contract with KRG Ministry of Natural Resources. $88 million remains overdue from KRG as of Q1 2026.
Scale indicators8 records
Recent moves10 records
Expansion highlights6 records
Genel Energy competitors and assessment
Company assessmentDirect peers
- DNO ASA: DNO ASA is the operator of the Tawke PSC (75% working interest) and Genel's joint venture partner. DNO is a Norwegian-listed independent E&P focused on the Kurdistan Region of Iraq and North Sea, with the same core asset base, the same cost discipline and the same regional/geopolitical exposure. Most directly comparable company to Genel.
- Gulf Keystone Petroleum: Gulf Keystone Petroleum is a London-listed independent E&P that operates the Shaikan field in the Kurdistan Region of Iraq. Same host country, same fractured carbonate reservoir play, same PSC economic structure, and similar mid-cap E&P profile. The closest direct peer in terms of geography, asset type, and customer base.
- ShaMaran Petroleum: ShaMaran Petroleum is a junior E&P focused on the Atrush block in the Kurdistan Region of Iraq. Pure-play KRI exposure with PSC economics, similar small-mid cap scale, and overlapping customer (KRG) and export channel (Iraq-Türkiye pipeline). Highly relevant peer for Genel's core asset exposure.
- Capricorn Energy: Capricorn Energy is a UK-listed E&P focused on the Egyptian Western Desert, and is the subject of Genel's announced $360M cash acquisition. Same scale and same independent E&P model, with a closely comparable revenue model (crude sales to host government counterparties). Most comparable peer for the post-acquisition Genel.
- Pharos Energy: Pharos Energy is a London-listed independent E&P with production and exploration assets in Egypt and Vietnam. Similar small-mid cap scale, similar host-government counterparty model, and similar North Africa / MENA regional exposure. Comparable to Genel's pre- and post-Capricorn portfolio mix.
- Tower Resources: Tower Resources is a London-listed junior E&P with exploration interests in Africa (Cameroon, South Africa) and elsewhere. Small-cap independent E&P with similar frontier/emerging-market asset focus and similar PSC-driven revenue model. Comparable in scale and operational model to Genel's exploration portfolio.
- SOCO International: SOCO International is a London-listed independent E&P with a historical focus on Africa and Vietnam production assets. Similar small-mid cap E&P profile, similar host-government counterparty model, and similar frontier / emerging-market asset mix. Comparable as a UK-listed independent E&P of similar scale.
- Africa Oil Corp: Africa Oil Corp is a Canadian-listed E&P with a portfolio of producing and exploration assets across Africa. Similar small-mid cap scale, similar independent E&P model, and overlapping host-government counterparties and PSC economics. Comparable on geography and asset structure to Genel's exploration portfolio.
Broad incumbents
- Dana Gas: Dana Gas is a larger MENA-focused natural gas and oil E&P listed in Abu Dhabi, with significant Kurdistan exposure via Pearl Petroleum. Larger and more diversified than Genel but with overlapping KRI PSC economics and regional operating model. Genel's Chair, Patrick Allman-Ward, was previously Dana Gas CEO.
- Eni: Eni is a global supermajor with material upstream interests in Iraq/Kurdistan (e.g., Zubair field) and across the Middle East and North Africa. Functions as a broader incumbent in the same upstream geographies and host-government commercial relationships, providing a reference for regional E&P economics and PSC terms.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks7 records
Key highlights7 records
Customer concentration
Genel Energy social profiles
Digital presenceGenel Energy financial estimates
Financial estimateRevenue estimate
Valuation estimate
Genel Energy leadership team
Management profileNumber of profiles
Profiles8 records
Genel Energy subsidiaries and ownership
Company hierarchySubsidiaries3 records
Genel Energy funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Genel Energy M&A and investment
M&A and investmentM&A2 records
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Genel Energy
What does Genel Energy do?
Genel Energy is an upstream oil and gas company that produces and sells crude oil from its working interests in Production Sharing Contracts (PSCs). The company's core production asset is the Tawke PSC in the Kurdistan Region of Iraq (25% working interest, operated by DNO), which includes the Tawke and Peshkabir fractured carbonate fields. It also holds exploration interests in Oman (Block 54, 40% WI) and Somaliland (SL 10B/13, 51% WI), and has announced the acquisition of Capricorn Energy for diversification into Egypt's Western Desert.
Is Genel Energy a public or private company?
Genel Energy is a public company. It is classified as public and is currently operating.
When was Genel Energy founded?
Genel Energy was founded in 2002. It employs 501 to 1,000 people.
Where is Genel Energy based?
Genel Energy is headquartered in London, United Kingdom, in the Europe region.
How does Genel Energy make money?
Two revenue lines are on record. Oil and Gas Production Sales are the primary driver. The others are asset Management and Joint Venture Operations.
Who are Genel Energy's main competitors?
Direct peers on record are DNO ASA, Gulf Keystone Petroleum, ShaMaran Petroleum, Capricorn Energy, Pharos Energy, Tower Resources, SOCO International and Africa Oil Corp. Broad incumbents are Dana Gas and Eni.
Does Genel Energy have an API?
No public API is recorded for Genel Energy.