Genel Energy PLC (LSE:GENL, OTC:GEGYY) has confirmed, in a statement, the receipt of some US$48.8mln of payments from the Kurdistan Regional Government (KRG), relating to oil sales in the month of April.
It comprised US$19.9mln for production from the Tawke field as well as US$12.7mln from the Tawke override facility, along with contributions of US$2.3mln and US$3.7mln from the Taq Taq and Sarta operations respectively.
Genel meanwhile was paid US$10.2mln of past receivables from the KRG.
After this latest payment the company is now owed US$58mln of net receivables from the KRG, for oil sales in the period between November 2019 and February 2020 as well as the period between April 2020 to December 2020 in which payments under the Tawke override facility were suspended.