TAQ TAQ OPERATING

TAQ TAQ OPERATING COMPANY LTD (TTOPCO) is a special purpose entity established and jointly owned by Genel Energy PLC and Addax Petroleum International Ltd, wholly owned by Sinopec, for the conduction of petroleum operations under a Production Sharing Contract (PSC) in the Taq Taq License Area in KRI. TTOPCO is not a party to the PSC nor own any assets other than what is required to conduct its operations, but is based on no-profit-no-loss principles. TTOPCO is registered under the laws of the British Virgin Islands and maintains offices in Ankara (Turkey), Erbil (Iraq) and within the Taq Taq license area.