Genel Energy Confirms Latest Oil Payments

By John Lee.

Genel Energy has announced that the Taq Taq field partners have received a gross payment of $10.22 million from the Kurdistan Regional Government for oil sales during June 2017.

Genel’s net share of the payment is $5.62 million. Gross oil sales from the Taq Taq field (pictured) in June 2017 averaged 15,863 bopd, including both exports and Bazian refinery deliveries.

The company also notes the announcement from DNO ASA, as operator of the Tawke field, that the Tawke field partners have received a payment of $34.75 million from the Kurdistan Regional Government as payment towards June 2017 crude oil deliveries to the export market from the Tawke licence. The funds will be shared pro-rata by DNO and Genel.

(Source: Genel Energy)

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