Receipt of payment for KRI oil exports
11 April 2017 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 $27.02 million from the Kurdistan Regional Government (‘KRG’) for oil sales during January 2017. Genel’s net share of the payment is $14.86 million. As agreed with the KRG, the percentage of field netback revenue allocated towards contractor monthly entitlement has been increased to 46.7% (from 25.4% in 2016) in accordance with the Taq Taq PSC terms. The percentage of field