Genel Energy confirms Payment from KRG

Genel Energy has announced that the company has received an override payment of $6.41 million from the Kurdistan Regional Government (KRG).

The payment represents 4.5% of Tawke gross field revenues for the month of September 2017, as per the terms of the Receivable Settlement Agreement.

An entitlement invoice for that month’s export deliveries has been issued separately and will be shared pro-rata with DNO upon receipt.

(Source: Genel Energy)