Report on payments to governments for the year 2024

Genel Energy

27/03/2025 10:00

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 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
Luke Clements, CFO
+44 20 7659 5100
Vigo Communications
Patrick d’Ancona
+44 20 7390 0230
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

 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



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EQS News Service