Genel Energy PLC (LSE:GENL, FRA:4VL) received a batch of payments from the Kurdistan Regional Government for oil sales made in May.
It received a total of US$30.4mln, of which US$13.6mln is from Genel’s share of sales from the Tawke field and a further US$8.3mln came from the Tawke override facility. Genel received US$3mln for the Sarta field and US$2mln for Taq Taq.
The regional government paid Genel US$3.5mln of due receivable recovery.
Genel said that following the latest payment, it is now owed US$141mln from the KRG, for oil sales made between November 2019 to February 2020 along with the suspended override from March to December 2020.