Genel Energy (LON:GENL) has received another payment from the Kurdistan Regional Government for oil shipped out of the region.
This latest receipt, of US$9mln, is for production from the Tawke field in Iraq where it has a 25% stake and DNO is the operator.
DNO said the Tawke field partners had received a gross payment ofUS $30mln for oil exported through the Iraq-Turkey pipeline.
It is Genel’s second payment from Tawke, having received US$8mln net in September.
The company has also started to receive regular payment from the Taq Taq field, where it has a 44% interest.
Earlier this week, Genel announced a US$16.5mln net payment for exports from the Taq Taq, its second payment from that field.
In June, Genel said its arrears in Kurdistan were US$378mln out of an estimated US$1bn owed by the regional government.
Taq Taq and Tawke are Genel’s main assets.
On Monday, it said turnover this year would be in the range of US$350-375mln while output was likely to average 85-90,000 barrels per day.