Gulf Keystone Receives Payment for Shaikan Crude

Source: www.gulfoilandgas.com 10/26/2016, Location: Middle East

Gulf Keystone confirms that a gross payment of $15.0 million has been received from the Kurdistan Regional Government ("KRG") for Shaikan crude oil export sales in August 2016.

Gulf Keystone and the KRG's Ministry of Natural Resources ("MNR") continue to work towards agreeing the final form of the May, June, July and August 2016 invoices in parallel with the negotiation and finalisation of the Second Amendment to the Shaikan Production Sharing Contract ("Second Shaikan Amendment"), as per the Bilateral Agreement between the Company and the MNR announced on 17 March 2016.

Following receipt of the payment, the Company's current cash position is $108.9 million.

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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  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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