Genel Energy receives payment for KRI oil exports
Wednesday, Jun 20, 2018
Genel Energy plc notes the announcement from DNO ASA, as operator of the Tawke PSC, that the Tawke partners have received $62.19 million from the Kurdistan Regional Government ('KRG') as payment for March 2018 crude oil deliveries to the export market from the Tawke licence. Genel's net share of the payment is $15.52 million.

The Taq Taq partners have received a gross payment of $6.20 million from the KRG for oil sales during March 2018. Genel's net share of the payment is $3.41 million.

The Company has also received an override payment of $8.37 million from the KRG, representing 4.5% of Tawke gross licence revenues for the month of March 2018, as per the terms of the Receivable Settlement Agreement.

In total, Genel's net share of payments relating to March 2018 exports totals $27.30 million.

For more information, please visit: http://www.genelenergy.com

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