Genel, DNO receive KRG sales payments

Genel Energy and DNO, partners in Iraqi Kurdistan Regional Government (KRG)’s oil fields said they’ve received payments from sales during July.

KRG has faced turmoil after a referendum for independence - neighbouring Turkey and Iraqi government have threatened halting of crude transport to and from the region.

UK’s Genel and partners in the Taq Taq field received US$10.39 million from KRG for July’s sales which grossed an average of 14,873 barrels of oil per day, it said in a statement.

These including both exports and Brazilian refinery deliveries with Genel’s net share of payments received being $5.71 million.

DNO, Norwegian oil and gas exporter, in a separate statement said it received payments of $39.5 from KRG for crude sales to the export market from the Tawke license. The funds will be shared pro-rata by DNO and its partner Genel Energy.