Oil group Genel Energy PLC (GENL.LN) said Wednesday that it and Norway's DNO International ASA (DNO.OS) have signed a Gas Sales and Purchase Agreement with the Kurdistan Regional Government to supply gas from the Summail field in the Dohuk license in the Kurdistan Region of Iraq.

MAIN FACTS:

-The gas will partially displace diesel currently used to generate electricity in a 500 MW power plant in the city of Dohuk located 40 kilometers from the field.

-Initial deliveries will be around 100 million cubic feet per day sold on a take-or-pay basis for the duration of the Production Sharing Contract or until deliveries reach one trillion cubic feet.

-The price of gas will range between $3 and $4 per thousand cubic feet over the life of the contract.

-Genel Energy plc holds a 40 percent interest in the Dohuk license; DNO International holds a 40 percent operated interest and the Kurdistan Regional Government the remaining 20 percent interest.

-Genel shares at 1448 GMT, up 6 pence, or 0.7%, at 938 pence valuing the company at GBP2.1 billion
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