Gulf Oil and Gas accountACCOUNT

Receipt of Payment for KRI oil Exports from Taq Taq Field

Source: www.gulfoilandgas.com 7/27/2016, Location: Middle East

Genel Energy plc (‘Genel’) announces that the Taq Taq field partners have received a gross payment of $24.91 million from the Kurdistan Regional Government (‘KRG’) for oil sales during June 2016. Genel’s net share of the payment is $13.70 million.

The payment reflects full settlement of the invoiced amount for June 2016 oil sales, and incorporates $20.82 million towards contractor monthly entitlement and $4.09 million towards recovery of historical receivables.

Gross oil sales from the Taq Taq field in June 2016 averaged 62,979 bopd. The average Brent price applicable for June 2016 was $48.34/bbl. A $5/bbl discount to Brent, including $4/bbl transportation and handling costs, is applied to arrive at the Taq Taq wellhead export netback price.

As agreed with the KRG, sales to the Bazian refinery during June 2016 were invoiced at the wellhead export netback price, in line with the payment mechanism announced by the KRG on 1 February 2016.

For more information about related Opportunities and Key Players visit Iraq Oil and Gas Projects

Financials and Investment News in Iraq >>

Niger >>  10/18/2019 - Savannah Petroleum PLC, the British independent oil & gas company focused around activities in Niger and Nigeria, is pleased to announce it has entere...
Australia >>  10/17/2019 - Polarcus Limited (PLCS) announces that the Company has secured high industry prefunding for a multi-client project in Australia with an approximate du...

Guyana >>  10/16/2019 - SBM Offshore is pleased to announce that it completed the project financing of FPSO Liza Unity for a total of US$1.14 billion. ...
Nigeria >>  10/15/2019 - Summary and Highlights ...

United States >>  10/11/2019 - BP now expects to deliver divestment proceeds and announced transactions totalling around $10 billion by the end of 2019, comprising the majority of i...
Spain >>  10/10/2019 - Columbus, the oil and gas producer and explorer with operations in Trinidad and Suriname, provides the following update about the La Lora Concession i...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Iraq Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 |

Oil & Gas Projects in Iraq >>

More News

Related Links

Gulf Oil and Gas
Copyright © 2019 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.