Genel comes up with the goods despite high risk region
The Anglo-Turkish player has carved out a very attractive niché for itself in Iraq’s Kurdistan region. And while the risks are high, NJ Watson argues, the rewards look set to be worth it
In 2011, Nathaniel Rothschild’s investment vehicle Vallares merged with a Turkish independent explorer to become Genel Energy. Since then, Genel has gone from strength to strength. In its first 18 months as a public company, Genel has made substantial progress. From its London flotation it moved from being a financial shell company with £1.35 billion ($2.03bn) on its balance sheet to become a top-tier independent with proven and probable reserves of 445 million barrels of oil equivalent (boe) in Iraq’s Kurdistan region. Daily production has nearly doubled to 75,000 barrels a day (b/d) since the first half of 2011.The decision to explore in what the company calls "one of the last great fronti
Also in this section
19 January 2026
Newfound optimism is emerging that a dormant exploration frontier could become a strategic energy play and—whisper it quietly—Europe’s next offshore opportunity
16 January 2026
The country’s global energy importance and domestic political fate are interlocked, highlighting its outsized oil and gas powers, and the heightened fallout risk
16 January 2026
The global maritime oil transport sector enters 2026 facing a rare convergence of crude oversupply, record newbuild deliveries and the potential easing of several geopolitical disruptions that have shaped trade flows since 2022
15 January 2026
Rebuilding industry, energy dominance and lower energy costs are key goals that remain at odds in 2026
