Genel is acquiring from Chevron 30% and 40% interests in the Sarta and Qara Dagh licences, respectively. In return for the interests in Sarta, Genel will pay 50% of ongoing field development costs until a specific production target is reached and a success fee on achievement of a production licence.

21 Jan 2019
FLASH: Acquisition in Kurdistan

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FLASH: Acquisition in Kurdistan
Genel Energy PLC (GENL:LON) | 65.6 -0.9 (-2.1%) | Mkt Cap: 183.1m
- Published:
21 Jan 2019 -
Author:
Stephane Foucaud -
Pages:
2 -
Genel is acquiring from Chevron 30% and 40% interests in the Sarta and Qara Dagh licences, respectively. In return for the interests in Sarta, Genel will pay 50% of ongoing field development costs until a specific production target is reached and a success fee on achievement of a production licence.