DJ 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
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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 www.genelenergy.com
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 USD265,000 (GBP208,000) 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 GBP86,000 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 (USD'000) 90 90
Licence training (USD'000) 50 50
Capacity building payments (USD'000) 75 75
Social development payments (USD'000) 50 50
Total (USD'000) 265 190 75
-ends-
Enquiries:
Genel Energy
+44 20 7659 5100
Luke Clements, CFO
Vigo Communications
+44 20 7390 0230
Patrick d'Ancona
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 www.genelenergy.com
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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 =------------------------------------------------------------------------------------
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March 27, 2025 06:00 ET (10:00 GMT)