Gulf Keystone said it has received a $15million payment from the Kurdistan Regional Government for Shaikan crude oil export sales in August.
The company said both the firm and the region’s Ministry of Natural Resources are working to agreeing the final form of invoices from May, June, July and August this year.
In a statement Gulf Keystone said it involves the negotiation and finalisation of the second amendment to the production sharing contract.
Following receipt of the payment, the company’s cash position is $108.9million.