Receipt of payment for KRI oil exports

RNS Number : 4954Y

Genel Energy PLC

09 September 2015

 

9 September 2015

Genel Energy plc

Receipt of payment for KRI oil exports from Tawke field

Genel Energy plc ('Genel' or 'the Company') 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 $8 million.

Taken with the Taq Taq export payment announced on 8 September 2015, Genel's total September 2015 export payment is $24.5 million

-ends-

For further information, please contact:

Genel Energy Ben Monaghan, Chief Financial Officer 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 additional 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.

Disclaimer

This announcement contains certain forward-looking statements that are subject to the usual risk factors and uncertainties associated with the oil & gas exploration and production business. Whilst the Company believes the expectations reflected herein to be reasonable in light of the information available to them at this time, the actual outcome may be materially different owing to factors beyond the Company's control or within the Company's control where, for example, the Company decides on a change of plan or strategy. Accordingly no reliance may be placed on the figures contained in such forward looking statements.

 

END

 

 

MSCLIFFEASIAIIE