Tawke field partners in the Kurdish Regional Government (KRG) received $62.46 million for December 2017 crude oil deliveries, Norway's DNO announced Thursday.
According to field partner DNO, the funds will be shared pro-rata by DNO and partner Genel Energy.
The Norwegian oil and gas operator, on Friday also reported that receipt of $5.25 million from the KRG net to DNO, representing three percent of gross Tawke license revenues during December 2017, as provided for under last August's Receivables Settlement Agreement.
DNO operates and has a 75 percent interest in the Tawke license.
Genel's net share of the payment is $15.62 million, Genel said on Thursday in a statement.
'The Company has received an override payment of $7.88 million from the KRG, representing 4.5 percent of Tawke gross licence revenues for the month of December 2017, as per the terms of the Receivable Settlement Agreement,' Genel Energy said.
Including the payment for Taq Taq received yesterday, Genel's net share of payments relating to December 2017 exports totals $28.58 million, according to Genel Energy.
The comapny also said that following the receipt of these payments, the full entitlement for 2017 sales has been received.
By Huseyin Erdogan
Anadolu Agency
energy@aa.com.tr