Paul Weir, CEO of Genel, said:
“As we enter 2025, we are confident that our business is well-positioned for growth and success. We have a solid financial foundation, and our two producing fields in the Tawke PSC represent a world-class asset that generates strong cash flow, even with the domestic prices being significantly discounted. We have a small but highly skilled and motivated team, focused on delivering performance, executing our growth strategy, and pursuing value-adding acquisitions that will allow us to expand into stable and predictable regions.
“We are actively collaborating with our partners and the Iraqi government to create the right conditions for testing new export mechanisms. Recently, there have been discussions around a revised budget law in Iraq, which could provide the framework needed to fund payments to international oil companies (IOCs) by the Kurdistan Regional Government (KRG) once exports resume.”
