2nd Mar 2023 21:02
Genel Energy PLC - Oil company with exploration and production operations in northern Iraq - On Wednesday says it signed an eight-year petroleum agreement and association contract with the Office National des Hydrocarbures et des Mines for the Lagzira block in Morocco. Adds that the contract has "attractive fiscal terms." Launches a process to find a partner to take a "material" equity position and to jointly pursue the exploration programme in the block, with the opportunity to drill and test one of the high-graded prospects. Explains that the Lagzira block is a large offshore licence, in water depths of 200-1,200 metres, with a proven petroleum system.
Current stock price: 126.80 pence
12-month change: down 13%
By Abby Amoakuh, Alliance News reporter
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