09:00 Tue 13 Apr 2021
Genel Energy PLC: Receipt of payments for KRI oil sales
Genel Energy PLC (GENL)
13 April 2021
Genel Energy plc
Receipt of payments for KRI oil sales
Genel Energy plc ('Genel' or 'the Company') announces that payments have been received from the Kurdistan Regional Government for oil sales during
Genel's share of those payments is as follows:
Under the Tawke override payment mechanism, Genel receives 4.5% of monthly Tawke gross field revenues.
The receivable recovery payment relates to unpaid invoices from 2019 and 2020. For each cent above a monthly dated Brent average of
As noted today by DNO ASA, operator of the Tawke PSC (Genel 25% working interest), following resumption of payments the partners have stepped up drilling of new wells at Peshkabir and workovers of existing wells at Tawke in 2021, raising gross operated licence production from an average of 110,300 bopd in 2020 to 110,900 bopd in January, 112,000 bopd in February, 113,100 bopd in March and 115,500 bopd month-to-date in April.
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For further information, please contact:
Notes to editors:
Genel Energy is a socially responsible oil producer listed on the main market of the London Stock Exchange (LSE: GENL, LEI: 549300IVCJDWC3LR8F94). The Company is one of the largest
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ISIN: | JE00B55Q3P39, NO0010894330 |
Category Code: | MSCM |
TIDM: | GENL |
LEI Code: | 549300IVCJDWC3LR8F94 |
Sequence No.: | 98737 |
EQS News ID: | 1184054 |
End of Announcement | EQS News Service |
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