(Alliance News) - Genel Energy PLC on Wednesday said the Taq Taq partners have received a gross payment of USD6.7 million from the Kurdistan regional government for oil sales during August.
Genel's net share of the payment is USD3.6 million. The payment was initially scheduled for December, but was delayed.
The oil company also said it has received an override payment of USD7.4 million from Kurdistan, representing 4.5% of Tawke field gross licence revenue for the month of August.
Genel said it will issue a further trading update on Thursday next week. The stock was trading 1.6% lower in London on Wednesday at 175.21 pence a share.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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Genel Energy (GENL)