The Taq Taq field partners have received a gross payment of US$12.24 million from the Kurdistan Regional Government 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 US$11.06 million towards contractor monthly entitlement and US$1.18 million towards recovery of historical receivables.
Gross oil sales from the Taq Taq field in May 2017 averaged 16 817 bpd, including both exports and Bazian refinery deliveries.
Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/09082017/genel-energy-receipt-of-payment-for-kri-oil-exports-from-taq-taq-field/