Genel Energy is pleased to announce that it has signed a drilling rig contract with Noble Corporation ("Noble") for its African offshore drilling programme. The Noble Paul Romano deepwater, semisubmersible rig will be used to deliver a high impact drilling campaign over a 2 year period, starting in the last quarter of 2013. The rig, which is currently undergoing a special 5 year class survey in Valletta, Malta, has a rated water depth of up to 1,800 metres and a drilling depth of approximately 7,500 metres.

AGR will be providing drilling management services.

Commenting on the secured rig contract, Dr. John Hurst, Head of Exploration for Genel, said:

"We are very pleased to have concluded the rig contract with Noble. This rig is capable of drilling all of Genel Energy’s off shore wells in the African portfolio and will be available to us for our first well in the fourth quarter. Securing the rig is an important component of our commitment to deliver an exploration drilling campaign of 5-6 high impact wells per annum, targeting over 3.3 billion boe of net unrisked prospective resources."