Receipt of payment for KRI oil exports
26 May 2016 Genel Energy plc Receipt of payment for KRI oil exports from Taq Taq field Genel Energy plc (‘Genel’) announces that the Taq Taq field partners have received a payment of $11 million from the Kurdistan Regional Government (‘KRG’) for oil sales during April 2016. Genel’s net share of the partial payment for April 2016 Taq Taq oil sales is $6.05 million. The payment reflects part settlement of the invoiced amount of $22.45 million for April 2016 Taq Taq oil sales. This figure incorporates $18.76 million towards contractor monthly entitlement and $3.69 million