KEYFACT Energy
Genel Energy plc announces that payment has been received from the Kurdistan Regional Government ('KRG') for oil sales during September 2019.
The Taq Taq partners have received a gross payment of $7.8 million. Genel's net share of the payment is $4.3 million.
The Company has also received an override payment of $7.0 million from the KRG, representing 4.5% of Tawke gross licence revenues for the month of September 2019, as per the terms of the Receivable Settlement Agreement.
Genel reiterates that it expects regular payments to continue, as they had since September 2015, and to be fully up to date on all payments by the end of Q1.