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

Genel EnergyAnnouncement

27/03/2025 10:15

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

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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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