Genel Energy PLC (LON:GENL) confirmed its latest payments for oil sales in the Kurdistan region of Northern Iraq.
The payments totalled US$27.2mln and cover oil sales made in the month of February, and, includes some US$5.4mln of recovered receivables relating to sales in 2019 and 2020.
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Additionally, the company told investors that its partner DNO, operator of Genel’s 25% owned Tawke PSC, has now stepped-up drilling of new wells at Peshkabir and workovers of existing wells at the Tawke field.
These operations are supporting production volumes which have increased from an average of 110,300 barrels of oil per day in January, to 112,000 and 113,100 bopd in February and March. In April to date, volumes averaged 115,500 bopd.