Genel Energy plc announced operating and earnings results for the full year 2016. For the year, the company's net production averaged 53,300 bopd.

For the year, the company reported a total of $210 million was invoiced for 2016 sales. Capital expenditure totalled $61 million, below the $90 million to $110 million guidance range, as previously communicated. Net debt at December 31, 2016 stood at $240 million against $241 million at 30 September 2016.

For the year 2017, the company production guidance is set at 35,000 to 43,000 bopd. This assumes the delivery of the Taq Taq work programme as stated above and a prudent level of contingency with respect to the Tawke operator's current 2017 production expectation.

For the year 2017, the company capital expenditure, net to Genel, at the Taq Taq and Tawke fields in 2017 is forecast at $50 million to 75 million. Expenditure on the KRI gas business is estimated at $10 million. Capex on the 2017 Africa exploration programme is estimated at $40 million.