Genel notes payment for Tawke sales

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 $31.33 million from the Kurdistan Regional Government for oil sales during August 2016.

The payment reflects full settlement of the invoiced amount for August 2016 oil sales, and includes $26.27 million towards the monthly entitlement and $5.05 million towards recovery of historical receivables.

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

Story provided by