Genel Energy has said it has received a $24.91million payment from the Kurdistan Regional Government for oil sales in June.
The company said its net share of the payment is $13.70million.
The payment reflects the full settlement of the invoiced amount for last month’s oil sales and incorporated $20.82million towards contractor monthly entitlement and $4.09million towards recovery of historical receivables.
Gross oil from the Taq Taq field in June 2016 averaged 62,979 barrels of oil per day.
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