Genel Energy President Retires

Genel Energy plc announced Wednesday that Mehmet Sepil has retired as the company’s president with immediate effect.

Sepil founded Genel Energy and was CEO of the company from 2002 until the merger with Vallares plc in 2011, when he became president of the company. Genel appointed Murat Özgül as its new chief executive on July 13, replacing Tony Hayward who became chairman of the company after the resignation of Rodney Chase.

Tony Hayward, chairman of Genel, commented in a company statement:

“The history of the Kurdistan Region of Iraq’s oil industry cannot be written without Mehmet featuring prominently, and it has been a great pleasure to work with him to establish the company he founded as a respected London-listed oil and gas company. While Mehmet leaves a legacy of a management team with unsurpassed relationships in the region, his expertise will remain on hand as he supports the business as a major shareholder.”

Murat Özgül, chief executive of the company, said in a Genel statement:

“Mehmet’s entrepreneurial skills and his vision have been integral in building Genel into a leading independent exploration and production company, and the Kurdistan Region of Iraq into a significant oil and gas province. Working alongside Mehmet for more than a decade has provided unique insight into doing business in the KRI and elsewhere in the world. I look forward to growing Genel and delivering on the strategy that the company instigated under Mehmet’s leadership, as Genel continues to support the KRG through progressing the development of our world-class gas assets, adding to the oil production that comprises the bedrock of KRI exports.”

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