Kurdish Regional Government (KRG) paid the remaining $15.16 million out of the total of $25.16 million due to Taq Taq field partners for oil sales in May 2016, Genel Energy announced on Thursday.
KRG had also paid $10 million to Taq Taq field partners for May鈥檚 oil sales on June 20.
鈥淭he payment completes settlement of the invoiced amount of $25.16 million for May 2016 Taq Taq oil sales, an amount that incorporates $21.02 million towards contractor monthly entitlement and $4.13 million towards recovery of historical receivables,鈥� the company said.
According to statement, Genel Energy鈥檚 net share of the May 2016 Taq Taq oil sales payments is $13.84 million.
Genel Energy operates in different fields in Northern Iraq including the Taq Taq and Tawke fields.
By Ugur Ertas
Anadolu Agency
ugur.ertas@aa.com.tr
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