(Alliance News) - Genel Energy PLC on Wednesday said the Tawke partners have received USD77 million as payment for October's crude oil deliveries.
Genel's share of the USD77.2 million total is USD19 million. Genel owns part of the Tawke project alongside Norway's DNO ASA, which acts as operator.
Genel and its partners in Kurdistan have had to deal with delayed payments in recent months. In an update in mid-March, Genel confirmed DNO had received no money from the regional government since January, which was for September crude oil.
Shares in Genel ended up 0.7% on Wednesday in London at 88.00 pence each.
By George Collard; georgecollard@alliancenews.com
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Genel Energy (GENL)