Gulf Keystone Petroleum said it has received a gross payment of $15million from the Kurdistan Regional Government for Shaikan crude oil export sales in June.
The company and the region’s Ministry of Natural Resources (MNR) are working together on agreeing the final form of invoices from May and June in comparison with the negotiation and finalisation of the second amendment to the Shaikan Production Sharing Contract as per the bilateral agreement between the two.
Gulf Keystone said following receipt of the payment, the company’s cash position will be $79.5million.