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) | 84.8 -4.9 (-6.4%) | Mkt Cap: 236.8m
- 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.