Genel Energy PLC Receipt of payment for KRI oil exports (9686I)
14 December 2015 - 11:15PM
UK Regulatory
TIDMGENL
RNS Number : 9686I
Genel Energy PLC
14 December 2015
14 December 2015
Genel Energy plc
Receipt of payment for KRI oil exports
Genel Energy plc ('Genel') is pleased to announce that the Taq
Taq field partners have received a gross payment of $30 million
from the Kurdistan Regional Government for oil exported through the
Kurdistan Region of Iraq-Turkey pipeline. Genel's share of the
gross Taq Taq payment is $16.5 million.
Genel also notes the announcement on 3 December 2015 from DNO
ASA, as operator of the Tawke field, that the Tawke field partners
have received a gross payment of $30 million for oil exported
through the Kurdistan Region of Iraq-Turkey pipeline.
Together, these represent the third monthly export payments made
to contractors in 2015.
-ends-
For further information, please contact:
Genel Energy
Phil Corbett, Head of Investor
Relations
Andrew Benbow, Head of Public
Relations +44 20 7659 5100
Vigo Communications
Patrick d'Ancona +44 20 7016 9573
Notes to editors:
Genel Energy is an independent oil and gas exploration and
production company listed on the main market of the London Stock
Exchange (LSE: GENL). The Company, with headquarters in London and
offices in Ankara and Erbil, is the largest independent oil
producer and the largest holder of reserves and resources in the
Kurdistan Region of Iraq and, through its Miran and Bina Bawi gas
fields, is set to be a cornerstone provider of gas to Turkey under
the KRI-Turkey Gas Sales Agreement. Genel also continues to pursue
further growth opportunities within the Middle East and Africa. For
further information, please refer to www.genelenergy.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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