Receipt of payment for KRI oil exports
22 March 2016 Genel Energy plc Receipt of payment for KRI oil exports from Taq Taq field Genel Energy plc ('Genel') is pleased to announce that the Taq Taq field partners have received a gross payment of $12.6 million from the Kurdistan Regional Government ('KRG') for oil sales during February 2016. Genel's share of the gross Taq Taq payment is $6.9 million. As agreed with the KRG, sales into the local market and deliveries to the Bazian refinery during February 2016 were invoiced at the wellhead export netback price, in line with the payment mechanism announced by the KRG on 1