Genel Energy PLC: Receipt of payment for KRI oil exports

1 April 2020

Genel Energy plc

Receipt of payment for KRI oil exports

Genel Energy plc ('Genel') notes the announcement by the operator of the Tawke licence, DNO ASA, that the Tawke field partners have received $77.2 million from the Kurdistan Regional Government as payment for October 2019 crude oil deliveries to the export market from the Tawke licence. Genel's net share of the payment is $19 million.

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Notes to editors:

Genel Energy is an independent oil and gas exploration and production company listed on the main market of the London Stock Exchange (LSE: GENL, LEI: 549300IVCJDWC3LR8F94). The Company, with headquarters in London and offices in Ankara and Erbil, is one of the largest London-listed independent oil producers, and is the largest holder of reserves and resources in the Kurdistan Region of Iraq. Genel has highly cash-generative oil production from the Taq Taq and Tawke licences, with material growth potential from other assets in the portfolio. Genel also continues to pursue further growth opportunities. For further information, please refer to www.genelenergy.com.