Gulf Keystone (LON:GKP) told investors that production from the Shaikan field remains above 40,000 barrels of oil per day.
A recently adopted ‘diversified marketing strategy’ sees the crude sold domestically as well as via trucked exports to Turkey’s coast, the company added.
Payments totalling US$9.8mln were recently received for domestic deliveries.
This comprised US$4.9mln for past oil deliveries and US$4.9mln as a pre-payment for contracted deliveries in the future. GKP said it had US$68.7mln of cash as of June 26.
The company told investors it is in continuing dialogue with the Kurdistan authorities, and it anticipates further payments.