Genel Energy : Launch of new education initiative in the KRI

9 June 2022

Genel Energy plc

Launch of new education initiative in the KRI

As Genel marks 20 years of operations in the Kurdistan Region of Iraq ('KRI'), the Company is pleased to announce the launch of the Genel20 Scholars programme, which is set to provide the opportunity for disadvantaged students to have a life-enhancing education and develop future talent for the region.

The Genel20 Scholars programme will see Genel fund scholarship opportunities for 20 talented but economically disadvantaged high school graduates to pursue bachelor studies at the American University of Kurdistan. The programme will be open to citizens of the KRI, with strong academic credentials and the potential to be future industry leaders in Kurdistan. Genel will provide full funding for tuition and living expenses, as well as offering civic leadership and career-oriented workshops, internship opportunities, and faculty mentorship and guidance from Genel staff. A range of courses will be available for prospective students, including Petroleum Engineering, Nursing, Accounting and Finance Management, and Computer Software.

A signing ceremony attended by Paul Weir, Chief Operating Officer, today in Dohuk will mark the launch of the programme, with the selection process then commencing in time for students to begin the 2022/23 academic year. Details on the application process will follow in due course.

Genel signed its first PSC in the KRI in 2002, the first company to do so. Since this time Genel has been integral in the development of the oil industry in the region, investing over $3.5 billion dollars in the KRI and generating $21 billion in revenue for the Kurdistan Regional Government. Direct employment and the establishment of local supply chains has also made a positive impact on local communities, while our social activities have supported key community needs.

The Genel20 Scholars programme will further deepen Genel's engagement with local communities through providing a long-term commitment that has the potential to transform the educational and career opportunities for many families.

As the year progresses, Genel will be launching further new social activities in the KRI, in line with UN Sustainable Development Goals, under the Genel20 banner.

Paul Weir, COO of Genel, said:

"In the 20 years we have operated in the Kurdistan Region of Iraq it has been a priority for us to make a positive difference and support the local community, and education has always been a key focus of our social activities. We are proud of the impact we have had on local communities, and through this programme we hope to continue positively changing lives for people across Kurdistan for many years to come. We look forward to updating you on other Genel20 initiatives as the year progresses."

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For further information, please contact:
Genel Energy	[phone]
Andrew Benbow, Head of Communications
American University Kurdistan	[phone]
Halmat Kestai

Notes to editors:

Genel Energy is a socially responsible oil producer listed on the main market of the London Stock Exchange (LSE: GENL). The Company is one of the largest London-listed independent hydrocarbon producers, with an asset portfolio that positions us well for a future of fewer and better natural resources projects.

Key facts about Genel in the KRI:

• Signed the first production sharing contract in the oil industry, in 2002
• Genel has invested $3.7 billion in the KRI since 2002
• $21 billion in revenue has been generated for the Kurdistan Regional Government from Taq Taq and Tawke, the latter operated by DNO
• Almost 600 local university students have participated in our technical training programmes
• Over $60 million has been invested in over 250 community projects
• 225 of our employees come from the KRI, with c.1000 Kurdish nationals working at our fields
• 34 local companies support our operations

Genel has low-cost and low-carbon production from the Sarta, Taq Taq, and Tawke licences in the Kurdistan Region of Iraq, providing financial resilience that allows investment in growth and the payment of a material and progressive dividend. Genel also continues to pursue further growth opportunities. For further information, please refer to www.genelenergy.com.