Genel Energy PLC: Update on Sarta PSC

5 September 2019

Genel Energy plc

Update on Sarta PSC

GenelEnergy plc ('Genel' or 'the Company') can confirm that Chevron Sarta, as operator of the Sarta field (Genel 30% working interest), has signed a contract withOILSERV for the construction, installation, operation and maintenance of a 20,000 bopdcentral processing facility('CPF').

OILSERV hasbeen contracted forthe facility through a lease agreement. The commissioning of the CPFand production start-up remains on track forthe middle of 2020.

Phase 1Aof the development represents a low-cost pilot development of the Mus-Adaiyah reservoirs, designed to recover 2P gross reserves of 34 MMbbls. Crude willbe processed through theCPF and then transferred to a local facility for further distribution.

Subsequent expansion investment decisions will be based on production behaviour plus a subsequent two to threewell appraisal/development campaign. Unrisked gross mid-case resources relating to the Jurassic Mus-Adaiyah reservoir aloneare estimated by Genel at c.150 MMbbls, similar in size to the Peshkabir field.

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For further information, please contact:

Genel Energy Andrew Benbow, Head of Communications	[phone]
Vigo Communications Patrick d'Ancona	[phone]

Notes to editors:

Genel Energy is an independent oil and gas exploration and production company listed on the main market of the London Stock Exchange (LSE: GENL, LEI: 549300IVCJDWC3LR8F94). The Company, with headquarters in London and offices in Ankara and Erbil, is one of the largest London-listed independent oil producers, and is the largest holder of reserves and resources in the Kurdistan Region of Iraq. Genel has highly cash-generative oil production from the Taq Taq and Tawke licences, with material growth potential from other assets in the portfolio. Genel also continues to pursue further growth opportunities. For further information, please refer towww.genelenergy.com.