Receipt of payment for KRI oil exports

RNS Number : 2161D

Genel Energy PLC

23 October 2015

 

23 October 2015

Genel Energy plc

Receipt of payment for KRI oil exports from Tawke field

Genel Energy plc ('Genel') notes the announcement 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. Genel's share of the Tawke gross payment is c.$9 million.

On October 20, Genel announced that it had received a $16.5 million net payment for exports from the Taq Taq field.

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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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