Tap says Manora report cuts payment costs

TAP Oil says it has finally received the final Manora 2P reserves report from operator Mubadala Petroleum, which shows it owes its aggrieved partner Northern Gulf Petroleum a fraction of the claimed $US14.6 million ($A18.9 million).

Tap says the 2P reserves deferred payment it agreed to when it acquired its 30% interest in the G1/48 concession in 2010, based on the report due on December 31, is just $US1.31 million ($A1.