Genel Energy Receives Payment for Shaikan Oil Sales

Source: www.gulfoilandgas.com 4/12/2021, Location: Middle East

Gulf Keystone confirms that a gross payment of $29.4 million ($23.0 million net to GKP) has been received from the Kurdistan Regional Government ('KRG'). The payment is comprised of gross $22.3 million ($17.5 million net) for Shaikan crude oil sales during February 2021 and gross $7.1 million ($5.5 million net) in relation to the arrears from the outstanding November 2019 to February 2020 invoices. Following receipt of the arrears payment, the current outstanding balance is $65.2 million net to GKP.


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