Genel Energy

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Genel Energy
Type Public
Traded as LSEGENL
Industry Oil and gas industry
Predecessor(s) Genel Enerji
Vallares
Founded 2011 (2011)
Headquarters Ankara, Turkey
Area served Iraqi Kurdistan
Key people Tony Hayward (CEO)
Mehmet Sepil (President)
Website www.genelenergy.com

Genel Energy plc is an oil company with a registered office in Jersey and field office in Turkey. It has its exploration and production operations in Iraqi Kurdistan with plans to expand its activities into other Middle East and North African countries.[1] The company owns rights in six production sharing contracts, including interests in the Taq Taq, Tawke, and Chia Surkh fields.[2]

Genel Energy was created in 2011 as a result of the reverse acquisition of Turkish Genel Enerji by Tony Hayward led investment company Vallares.[1] Vallares was set up by Tony Hayward, financier Nat Rothschild and banker Julian Metherell.[1] Genel Enerji was controlled by Mehmet Emin Karamehmet through Çukurova Group (56%) and Mehmet Sepil's family (44%). In 2009, Genel Enerji planned merger with Heritage Oil; however, the deal subsequently collapsed.[3]

Tony Hayward is CEO of Genel Energy while former CEO of Genel Enerji Mehmet Sepil became President of the company.[4] The Board includes former deputy chief executive of BP and chairman of Petrofac, Rodney Chase.[3]

The company is listed at the London Stock Exchange. 50% of Genel Energy is owned by investors of former Vallares, which has merged with Genel Energy.[4]

References[edit]

  1. ^ a b c "Genel Energy eyes Mideast push". Upstream Online (NHST Media Group). 2011-09-08. (subscription required). Retrieved 2011-09-10. 
  2. ^ Marshall, Steve (2011-12-21). "Genel 'in talks' for Kurdistan field stake". Upstream Online (NHST Media Group). (subscription required). Retrieved 2011-12-21. 
  3. ^ a b "Vallares poised to buy Genel Enerji". Upstream Online (NHST Media Group). 2011-09-06. (subscription required). Retrieved 2011-09-10. 
  4. ^ a b "Vallares Confirms Merger With Genel, Deal Reinstates Hayward's Leadership". OilVoice. 2011-09-08. Retrieved 2011-09-10. 

External links[edit]