Genel Energy Discloses 2024 Government Payments

Genel Energy PLC has released its annual report on payments made to governments for the fiscal year 2024. According to regulatory requirements under the UK Financial Conduct Authority's Disclosure and Transparency Rules, Genel Energy has detailed its financial contributions to the governments where it operates.

In 2024, Genel Energy reported a total of $265,000 paid to the Government of Somaliland for its activities under the SL10B/13 and Odewayne Petroleum Sharing Agreements. This amount includes $90,000 each for licence rentals, $50,000 for training, $75,000 for capacity building, and $50,000 for social development payments.

Payments below a threshold of £86,000 were not included, as stipulated by guidelines. The full report can be accessed on the company's website.