Oil producer Genel Energy (LON:GENL) has received notification from partner DNO that US$18mln has been paid for oil from the Tawke field in Iraq ro January.
A further US$3.46mln for arrears was also paid after a new system was introduced this month.
The payments will be shared pro-rata by DNO (55%) and Genel (25%). The previous gross monthly payment, in January, was US$30mln.
Last week, Genel received US$10.8mln net for the Taq Taq field, also in Kurdistan, compared to US$16.5mln of payments for December 2015.