According to Proactive Investors, the Iraqi Kurdistan Regional Government paid $35 million this month to foreign companies that extract oil from the Taq Taq and Tavga oilfields as their June payments.

The London-based Genel Energy Company announced that it received $9.8 million of the payment as its share in the two oilfields.

The company said the oil production in the Tavga oilfield has decreased as a result of the outbreak of coronavirus and the sharp drop in oil prices worldwide and the production is expected to continue to drop from 115,000 barrels a month in the first four months of 2020 to about 100,000 barrels, it said.

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