Genel Energy has said it has received a $24.91million payment from the Kurdistan Regional Government for oil sales in June.
The company said its net share of the payment is $13.70million.
The payment reflects the full settlement of the invoiced amount for last month’s oil sales and incorporated $20.82million towards contractor monthly entitlement and $4.09million towards recovery of historical receivables.
Gross oil from the Taq Taq field in June 2016 averaged 62,979 barrels of oil per day.
Recommended for you
What can energy firms learn from the government’s £263m IR35 mistake?
