The deadline to meet the conditions precedent relating to the Bina Bawi gas lifting agreement has lapsed. Genel and the KRG will however focus on negotiating updated commercial terms based on a staged and integrated oil and gas development where the oil project would fund the gas. The current production sharing contract for Bina Bawi lasts for a further 12 months. We see a scenario where no agreement is reached by then and the PSC is terminated. The company also expects that the deadline for
30 Apr 2019
FLASH: 12 months left to reach an agreement on Bina Bawi?
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FLASH: 12 months left to reach an agreement on Bina Bawi?
Genel Energy PLC (GENL:LON) | 83.2 -0.1 (-0.1%) | Mkt Cap: 232.5m
- Published:
30 Apr 2019 -
Author:
Stephane Foucaud -
Pages:
2
The deadline to meet the conditions precedent relating to the Bina Bawi gas lifting agreement has lapsed. Genel and the KRG will however focus on negotiating updated commercial terms based on a staged and integrated oil and gas development where the oil project would fund the gas. The current production sharing contract for Bina Bawi lasts for a further 12 months. We see a scenario where no agreement is reached by then and the PSC is terminated. The company also expects that the deadline for