Genel Energy receives payment for KRI oil exports from the Taq Taq field (Scandinavian Oil-Gas Magazine)

Genel Energy receives payment for KRI oil exports from the Taq Taq field

Published Feb 8, 2016

Genel Energy says that the Taq Taq field partners have received a gross payment of $16.3 million from the Kurdistan Regional Government ('KRG') for oil exported through the Kurdistan Region of Iraq-Turkey pipeline. Genel's share of the gross Taq Taq payment is $9 million.

As the Ministry of Natural Resources announced on 1 February 2016, the payment is based on the monthly production entitlement, inclusive of crude quality differentials compared to Brent and the deduction of applicable transportation charges and handling costs.

Tags: Genel Energy

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Genel Energy receives payment for KRI oil exports from the Taq Taq field

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