Receipt of payment for KRI oil exports

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.

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For further information, please contact:

Genel Energy Phil Corbett, Head of Investor Relations Andrew Benbow, Head of Public Relations	[phone]
Vigo Communications Patrick d'Ancona	[phone]

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.

 

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