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Genel Energy PLC (GENL)
Genel Energy PLC: Receipt of payments for KRI oil sales
05-Nov-2021 / 07:00 GMT/BST
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
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5 November 2021
Genel Energy plc
Receipt of payments for KRI oil sales
Genel Energy plc ('Genel' or 'the Company') announces that payments have
been received from the Kurdistan Regional Government ('KRG') relating to
oil sales during August 2021.
Genel's share of those payments is as follows:
(all figures $ million) Payment
Tawke 13.7
Tawke override 8.2
Taq Taq 1.9
Sarta* 2.2
Receivable recovery 3.9
Total 29.9
Following the receipt of the receivable recovery payment, Genel is now
owed $128 million from the KRG for oil sales from November 2019 to
February 2020 and the suspended override from March to December 2020.
*Genel is awaiting confirmation from the operator, Chevron, that payment
has been received. The Company expects this shortly and will not announce
the payment separately.
-ends-
For further information, please contact:
Genel Energy
+44 20 7659 5100
Andrew Benbow, Head of Communications
Vigo Communications
+44 20 7390 0230
Patrick d'Ancona
Notes to editors:
Genel Energy is a socially responsible oil producer listed on the main
market of the London Stock Exchange (LSE: GENL, LEI:
549300IVCJDWC3LR8F94). The Company is one of the largest London-listed
independent hydrocarbon producers, with an asset portfolio that positions
us well for a future of fewer and better natural resources projects. Genel
has low-cost and low-carbon production from the Sarta, Taq Taq, and Tawke
licences in the Kurdistan Region of Iraq, providing financial resilience
that allows investment in growth and the payment of a material and
sustainable dividend, even at a low oil price. Genel also continues to
pursue further growth opportunities. For further information, please refer
to 1 www.genelenergy.com.
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ISIN: JE00B55Q3P39, NO0010894330
Category Code: MSCM
TIDM: GENL
LEI Code: 549300IVCJDWC3LR8F94
Sequence No.: 126075
EQS News ID: 1246479
End of Announcement EQS News Service
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