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KRI oil exports payment from Tawke field

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Oilfield Technology,

Genel Energy plc has announced from DNO ASA, as operator of the Tawke field, that the Tawke field partners have received a payment of US$16 million from the Kurdistan Regional Government (KRG) for oil sales during April 2016.

The payment reflects part settlement of the invoiced amount of US$32.3 million for April 2016 Tawke oil sales. This figure incorporates US$27.1 million towards contractor monthly entitlement and US$5.2 million towards recovery of historical receivables.v

The payment will be shared pro-rata by DNO and Genel.

Tawke production in April averaged 118 918 bpd, of which 117 815 bpd were earmarked for export, up from an average of 74 546 bpd in March.

Edited from press release by

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