GENL Genel Energy

Genel Energy PLC: Report on payments to governments for the year 2024

Genel Energy PLC (GENL)
Genel Energy PLC: Report on payments to governments for the year 2024

27-March-2025 / 10:00 GMT/BST


 

27 March 2025

  

Genel Energy plc

 

Report on payments to governments for the year 2024

Introduction and basis for preparation

This report sets out details of the payments made to governments by Genel Energy plc and its subsidiary undertakings (‘Genel’) for the year ended 31 December 2024 as required under the Disclosure and Transparency Rules of the UK Financial Conduct Authority (the ‘DTRs’) and in accordance with our interpretation of the Industry Guidance issued for the UK’s Report on Payments to Governments Regulations 2014, as amended in December 2015 (‘the Regulations’). The DTRs require companies in the UK and operating in the extractives sector to publicly disclose payments made to governments in the countries where they undertake exploration, prospection, development and extraction of oil and natural gas deposits or other materials.

This report is available to download at

 

Licence fees

 

These are fees and other sums paid as required by the licence agreements in relation to exploration rental, social development, training and technology transfer.

 

During 2024, Genel paid $265,000 (£208,000) in licence fees to the Government of Somaliland in connection with its obligations under the SL10B/13 and Odewayne Petroleum Sharing Agreements.

Materiality threshold

Total payments below £86,000 made to a government are excluded from this report as permitted under the Regulations.

 

 

payments to governments – 2024

 

Country/Licence

Somaliland Total

SL10B/13

Odewayne

 

 

 

 

 Licence rental ($’000)

 90

90

 

Licence training ($’000)

50

50

 

Capacity building payments ($’000)

75

 

75

Social development payments ($’000)

50

50

 

Total ($’000)

265

190

75

 

 

 

 

-ends-

 

Enquiries:

 

Genel Energy

Luke Clements, CFO

0

 

 

Vigo Communications

Patrick d’Ancona

0

 

Notes to editors:

 

Genel Energy is a socially responsible oil producer listed on the main market of the London Stock Exchange (LSE: GENL, LEI: 549300IVCJDWC3LR8F94). For further information, please refer to  

 

 



Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.


ISIN: JE00B55Q3P39, NO0010894330
Category Code: PGR
TIDM: GENL
LEI Code: 549300IVCJDWC3LR8F94
OAM Categories: 1.3. Payments to governments
Sequence No.: 380262
EQS News ID: 2107010

 
End of Announcement EQS News Service

EN
27/03/2025

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