Our business model underpins our strategy. Low-cost production from our oil assets in the Kurdistan Region of Iraq, and a robust balance sheet, help to fund our exploration and development plans. A robust approach to governance and a commitment to operating responsibly are essential to our approach.
Oil production in the KRI provides ongoing cash generation. We will aim to bring in partners to our KRI gas business with a view to crystallising value, reduce future funding requirements and delivering an appropriate balance of risk and reward.
The Company aims to retain a strong balance sheet and flexibility in our capital structure in order to pursue its strategic objectives and underpin future growth.
Genel’s long-term presence in the Kurdistan Region of Iraq has allowed us to build lasting and beneficial relationships with the KRG and the local business community. These, allied with our Turkish heritage, play a vital role in creating value for shareholders.
The way in which we conduct ourselves with our host communities and governments, and our record on health, safety and the environment, is the bedrock for all of our operations, and is crucial to our success as a business.