Genel Energy (LON:GENL) has confirmed the receipt of US$30mln as a gross payment for export sales of crude oil produced at the Taq Taq field.
The London listed oil company’s share of the payment will be US$16.5mln, it added.
Additionally, Genel also confirmed that a separate US$30mln payment had been received by DNO, the operator of the company’s 25% owned Tawke field.
“Together, these represent the third monthly export payments made to contractors in 2015,” Genel said in a stock market statement.
Crude from both Taq Taq and Tawke is delivered to export markets through the Kurdistan region of Iraq into Turkey via the Kurdistan regional government’s pipeline.