Genel notes payment for KRI oil exports

Genel Energy has noted an announcement from DNO ASA, as operator of the Tawke field, that the Tawke field partners have received a payment of $36.20 million from the Kurdistan Regional Government for oil sales during September 2016.

The payment reflects full settlement of the invoiced amount for September 2016 oil sales, and includes $30.36 million towards the monthly entitlement and $5.84 million towards recovery of historical receivables.

The payments will be shared pro-rata by DNO and Genel.

Tawke production in September averaged 112,897 bopd, of which 112,282 bopd was delivered for export through Turkey.

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