Genel Energy PLC Receives Payment for KRI Oil Exports

Source: www.gulfoilandgas.com 1/8/2020, Location: Middle East

Genel Energy plc has announced that the Taq Taq partners have received a gross payment of $6.7 million from the Kurdistan Regional Government ('KRG') for oil sales during August 2019. Genel's net share of the payment is $3.6 million.

The Company has also received an override payment of $7.4 million from the KRG, representing 4.5% of Tawke gross licence revenues for the month of August 2019, as per the terms of the Receivable Settlement Agreement.

The Company will update on any further payments in the trading and operations update scheduled for 16 January.


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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

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