London-listed Genel Energy has seen efforts to diversify its portfolio stumble in recent years. All of its 19,650 b/d in 2024 working interest output came from its 25% stake in Iraqi Kurdistan’s DNO-operated Tawke field, whose output achieved an average price of just $35/B (MEES, 7 February).
With attempts to expand in Morocco and Somaliland failing to bear fruit, Genel has now entered Oman, earlier this month taking 40% stake in exploration Block 54 alongside a 60% operator stake held by state upstream firm OQEP (MEES, 14 March). (CONTINUED - 200 WORDS)