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Genel Energy PLC: Receipt of payments for KRI oil sales

·2-min read

Genel Energy PLC (GENL)
28-Jan-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.

28 January 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 for oil sales during December 2020.

 

The Tawke partners have received a gross payment of $43.1 million, with Genel's net share of the payment being $10.5 million.

 

The Sarta partners have received a gross payment of $2.9 million, with Genel's net share of the payment being $1.4 million.

 

Payment for Taq Taq is expected in coming days following a reconciliation of 2020 costs. This payment will not be announced separately.

 

-ends-

 

For further information, please contact:

 

Genel Energy

Andrew Benbow, Head of Communications

+44 20 7659 5100

 

 

Vigo Communications

Patrick d'Ancona 

+44 20 7390 0230

 

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 www.genelenergy.com.

 


ISIN:

JE00B55Q3P39

Category Code:

MSCM

TIDM:

GENL

LEI Code:

549300IVCJDWC3LR8F94

Sequence No.:

92426

EQS News ID:

1163863


 

End of Announcement

EQS News Service

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