KRG: Output From Key Fields Dips, Payments Rise

The Kurdistan Regional Government (KRG) has completed payments for May production at two of its key fields just three weeks after making April payments. But they were still more than a week late and payments for one field have yet to begin.

Norway’s DNO and Anglo-Turkish Genel Energy confirmed on 23 May that payments for their operated fields, Tawke and Taq Taq respectively, have been completed. They were made in two tranches.

DNO announced on 21 May that the first payment was for $15mn to be shared with field-partner Genel. Having invoiced for $39.28mn, the remaining $24.28mn was received in the second tranche. Payments were up 22% on April, despite output slipping a fraction to 117,600 b/d, with oil prices up 10% versus the previous month. (CONTINUED - 618 WORDS)


table KRG 'Monthly' Payments Timings