Genel Energy PLC (LON:GENL) noted the latest payments received from the Kurdistan Regional Government for oil sales made in January.
It received a total of US$23.9mln in net payments – comprising US$10.9mln for its share of the Tawke field, US$6.5mln for the Tawke override, US$2.6mln from its stake in the Taq Taq field and US$1.5mln from the Sarta field.
It also included the recover of US$2.4mln of past receivables, from oil sale invoices from 2019 and 2020.
Earlier this week, the company told investors that the Sarta-3 well has begun production. It sees the Sarta field, in the Kurdistan Region of Iraq, now producing more than 10,000 barrels of oil per day.
Genel, in a brief statement on Monday, said it expects production volumes to increase from the two current production wells through the optimisation of the field’s production facilties.