Last checked at 
Genel said partners from the Tawke field in Iraqi
It has also received an override payment of
Genel posted a pretax profit of
Earnings before interest, taxes, depreciation, amortisation, exploration, and impairment totaled
Revenue in 2017 was
Total net production for 2017 was 35,200 barrels of oil per day, down from 53,300 bopd in 2016. In 2018, combined Taq Taq and Tawke production is guided at an unchanged 32,800 barrels of oil per day.
Production at Tawke increased, boosted by the new Peshkabir field, while Taq Taq declined, though this was arrested by a well intervention programme.
Tawke and Taq Taq, both in
The results, Genel said, were boosted by consistent payments from the
Further, in August, the Iraqi oil producer finally struck a definitive deal with
Genel was owed large amounts of cash by
Genel said Thursday this had been a "very positive" development during the year, boosting earnings during 2017, and it will likewise to do so in future. The consistent payments have also allowed Genel to conduct its drilling programme on other assets.
Chief Executive Murat Ozgul said: "Another year of consistent payments by the KRG and a disciplined capital allocation strategy helped to generate material free cash flow in 2017. This was enhanced in the latter part of the year by the receivable settlement agreement, from which Genel expects to generate sustainable and significant free cash flow going forward."
"The strong financial performance of 2017, and the promise of more to come, facilitated the successful refinancing in December, which solidified a significant improvement in the balance sheet and provides a strong platform for growth," Ozgul added.
Genel shares were down 1.1% on Thursday at
