Business
Replacement-Receipt of payment for KRI oil exports
Replacement-Receipt of payment for KRI oil exports.
About this update from Genel Energy Plc
[{"type":"text","content":"\n \nRNS Number : 7547E Genel Energy PLC 10 May 2017 \n\n \n \n \nThis version replaces the original issued earlier today, updating for the correct month in the final paragraph.\n \n \n10 May 2017\n \nGenel Energy plc\n \nReceipt of payment for KRI oil exports from Tawke field\n \n \nGenel Energy plc ('Genel') notes the announcement from DNO ASA, as operator of the Tawke field, that the Tawke field partners have received a payment of $41.40 million from the Kurdistan Regional Government as payment towards February 2017 crude oil deliveries to the export market from the Tawke field.\n \nThe payment reflects full settlement of the invoiced amount for February 2017 oil sales, and includes $34.73 million towards monthly entitlement and $6.68 million towards recovery of historical receivables.\n \nThe payments will be shared pro-rata by DNO and Genel.\nTawke production in February averaged 110,803 bopd, of which 110,641 bopd was delivered for export through Turkey.\n \n-ends-\n \nFor further information, please contact:\n \n\n\n\n\nGenel Energy\nPhil Corbett, Head of Investor Relations\nAndrew Benbow, Head of Public Relations\n\n\n+44 20 7659 5100\n\n\n\n\n \n\n\n \n\n\n\n\nVigo Communications\nPatrick d'Ancona \n\n\n+44 20 7830 9700\n\n\n\n\n \nNotes to editors:\n \nGenel 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. \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCBXGDURGBBGRG\n ","length":3504,"tagName":"div"}]