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Genel Energy PLC on Thursday said all payments relating to oil sales during this past July have been received from the Kurdistan regional government.
The oil company with exploration and production operations in northern Iraq said its share of those payments were an aggregate $54.2 million.
In terms of payment breakdown, Tawke oil field sales were $21.8 million, Tawke override sales were $15.0 million, Taq Taq sales were $2.4 million, Sarta sales were $2.7 million, and receivable recovery sales were $12.3 million.
Genel said it was owed $120 million excluding interest for deferred receivables from the KRG for oil sales from November 2019 to February 2020. It has now received $130 million. The override was suspended between March 2020 and December 2020. This would have earned Genel around $38 million.
Shares in Genel were down 3.8% to 141.80 pence in London on Thursday afternoon.
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