Genel Energy PLC (LSE:GENL, OTC:GEGYY) said all payments have now been received from the Kurdistan Regional Government relating to oil sales during November 2021.
The company received a total of US$37.9mln, of which the contribution from the Tawke asset was US$16.9mln and Tawke override payments were US$10.4mln.
Last month, Genel said the operator of Tawke, DNO, expects to maintain gross production at around 105,000 barrels of oil per day during 2022 after drilling resumed in the third quarter of 2021 after eighteen months when production decline was partially offset by gas injection and workovers only.
Today Genel said its latest payments from the KRG included a US$6.2mln receivable recovery payment, which it said meant it is now owed US$111mln from the KRG for oil sales from the period from November 2019 to February 2020 and the suspended override from March to December 2020.