Genel Energy has announced the receipt of payments from the Kurdistan Regional Government (KRG) for oil sales during September 2017 from the Tawke and Taq Taq PSCs.
DNO ASA, as operator of the Tawke PSC, has announced the receipt of $54.32 million from the KRG as payment towards September 2017 crude oil deliveries to the export market from the Tawke licence. Genel's net share of the payment is $13.58 million.
The Taq Taq field partners have received a gross payment of $9.70 million from the KRG for oil sales during September 2017. Genel's net share of the payment is $5.33 million.
Genel has also received an override payment of $6.55 million from the KRG, representing 4.5% of Tawke gross field revenues for the month of October 2017, as per the terms of the Receivable Settlement Agreement.
Combined, Genel's December 2017 net receipts total $25.46 million.
(Source: Genel Energy)