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Kurdistan Regional Government (KRG) Pays Genel Energy PLC $27US Million

The payment relates to oil sales in April, and also includes some arrears for past crude deliveries.

Around US$50mln was invoiced for April oil sales from the Taq Taq and Tawke field, and so far payments totalling US$27mln have been received. The payment will be shared amongst Tawke field oil partneres, DNO and Genel. 

Genel Energy, PLC had invoiced the Kurdistan Regional Government $50US million for April and has received, $27US million, as it was confirmed recently. 

The invoice was originally for oil sales from the Taq Taq and Tawke oil fields in Iraqi Kurdistan. Genel has also confirmed $16US million has been paid to the partners of the Taqke oil field. 

Production numbers for Tawke oil field, in which Genel has a 25% stake in, produced 118,918 bpd, and  117,815 was for export purposes. In March, the field produced 74,546 bpd. Genel also received an $11US million payment from KRG for sales in their 44% ownership of Taq Taq oil field. 

 

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