Gulf Keystone Provides Shaikan Payment Update

Source: www.gulfoilandgas.com 3/4/2022, Location: Middle East

Gulf Keystone confirms that a gross payment of $47.0 million ($36.8 million net to GKP) has been received from the Kurdistan Regional Government ("KRG"). The payment is comprised of gross $38.4 million ($30.1 million net) for Shaikan crude oil sales during November 2021 and gross $8.5 million ($6.7 million net) in relation to the arrears from the outstanding January 2020 to February 2020 invoices.

Following receipt of the arrears payments, the current outstanding arrears balance is $21.9 million net to GKP.


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