Genel Energy PLC (LON:GENL) has confirmed it has received a further payment from the Kurdistan Regional Government for past oil sales from the Tawke field.
The company said US$8.41mln has been received to close off the total amount invoiced for the month of June 2016, adding to the US$38.41mln received previously in August 2016.
The cash will be split between operator DNO and Genel Energy on a pro-rata basis (Genel owns 25% of the field).
Last week, the companies received US$38.89mln for October 2016. That payment reflected full settlement of an invoice – comprising US$32.62mln towards monthly entitlement and US$6.27mln towards the recovery of historical receivables.