The London-listed player led by ex-BP boss Tony Hayward is gearing up for a renewed expansion drive that will also include exploration on newly acquired African acreage, as well as possible further asset acquisitions, with a bulging war chest of more than $900 million in net cash at its disposal.
The Genel chief executive said the company is also soon set to receive about $150 million from Iraq in long overdue backpayments for oil exports after the Baghdad regime this week handed over to Kurdistan an initial 650 billion Iraqi dinar ($559 million) payment for foreign companies producing in the autonomous region.
It
