Genel Energy PLC Receipt of payment for KRI oil exports (4589N)
August 09 2017 - 2:00AM
UK Regulatory
TIDMGENL
RNS Number : 4589N
Genel Energy PLC
09 August 2017
9 August 2017
Genel Energy plc
Receipt of payment for KRI oil exports from Taq Taq field
Genel Energy plc ('Genel' or 'the Company') is pleased to
announce that the Taq Taq field partners have received a gross
payment of $12.24 million from the Kurdistan Regional Government
('KRG') for oil sales during May 2017.
Genel's net share of the payment is $6.73 million.
The payment reflects full settlement of the invoiced amount for
May 2017 oil sales, and incorporates $11.06 million towards
contractor monthly entitlement and $1.18 million towards recovery
of historical receivables.
Gross oil sales from the Taq Taq field in May 2017 averaged
16,817 bopd, including both exports and Bazian refinery
deliveries.
-ends-
For further information, please contact:
Genel Energy
Phil Corbett, Head of Investor
Relations
Andrew Benbow, Head of Public
Relations +44 20 7659 5100
Vigo Communications
Patrick d'Ancona +44 20 7830 9700
Notes to editors:
Genel Energy is an independent oil and gas exploration and
production company listed on the main market of the London Stock
Exchange (LSE: GENL). The Company, with headquarters in London and
offices in Ankara and Erbil, is one of the largest London-listed
independent oil producers, and is the largest holder of reserves
and resources in the Kurdistan Region of Iraq. Through its Miran
and Bina Bawi gas fields, the Company is positioned to be a
cornerstone provider of KRI gas to Turkey under the KRI-Turkey Gas
Sales Agreement. Genel also continues to pursue further growth
opportunities within the Middle East and Africa. For further
information, please refer to www.genelenergy.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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