21st June, 2016
Genel Energy plc announces that the Taq Taq field partners have received a payment of $10 million from the Kurdistan Regional Government for oil sales during May 2016.Genel's net share of the partial payment for May 2016 Taq Taq oil sales is $5.5 million.The payment reflects part settlement of the invoiced amount of $25.16 million for May 2016 Taq Taq oil sales. This figure incorporates $21.02 million towards contractor monthly entitlement and $4.13 million towards recovery of historical receivables. The balance of the May 2016 invoice is expected to be paid shortly.Gross oil sales from...