Gulf Keystone (LON:GKP) has confirmed the receipt of a US$12mln net payment for crude, produced at its Shaikan field, which takes the group’s cash position to around US$58mln.
It satisfies the company’s invoice to the Kurdistan authorities for the month of December, and it is the fourth monthly payment to be received in a row.
Also today, fellow Kurdistan based oil firm Genel Energy (LON:GENL) confirmed a payment in respect of exported crude produced from its part owned Tawke field. Its partner DNO received US$30mln gross.
On Tuesday, Genel announced a US$30mln gross payment was received for crude oil produced from the Taq Taq field. Genel’s share was US$16.5mln.
The payments reflect an apparent improvement and a regularity of payments which began in September.
The Kurdistan Regional Government (KRG) also told oil companies last year that it intended to increase the amounts paid during 2016 in order to begin repayment of arrears for past crude exports.