UPDATE 2-Genel targets Turkey gas deal this year to overcome oil troubles - REUTERS

LONDON Thu Mar 30, 2017 | 5:15am EDTKarolin Schaps; Editing by David Evans and Susan Thomas

• $779 mln in exploration write-offs in 2016
• Annual operating loss of $1.2 bln
• Shares recover slightly after record low on reserves cut
• Receivables fall to $253.5 million (Recasts with gas projects, adds CEO, analyst comments, share price)

Genel Energy, the oil producer chaired by former BP boss Tony Hayward, expects to strike a gas-export partnership deal with Turkey Energy Company this year, it said on Thursday, as it tries to overcome setbacks in oil exploration.

Genel slipped further into the red last year after it again downgraded reserves at its flagship oilfield and weak oil prices ate into profits, it said.