Gulf Keystone Petroleum Pays Kurdistan Government $112.5M in 2015

Gulf Keystone Petroleum Ltd made payments worth $112.5 million to the Ministry of Natural Resources of the Kurdistan Regional Government in the year ended December 31, 2015, the oil and gas exploration and production company revealed Monday.

All of the payments were made in relation to the Shaikan Production Sharing Contract in the Kurdistan Region of Iraq. The MNR’s production entitlement in-kind was 4.2 million barrels, which equated to $89 million. Royalties in-kind amounted to 1.1 million barrels, or around $23.5 million.

The announcement was made as required under the Disclosure and Transparency Rules of the UK Financial Conduct Authority and in accordance with the company’s interpretation of the draft Industry Guidance issued for the UK's Report on Payments to Government Regulations 2014, as amended in December 2015.



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  How to Become a Safety Engineer (Sep 18)
 -  How to Become a Geologist (Sep 15)
 -  Oil, Gas Industry Leadership Group to ... (Sep 14)
 -  CB&I Wins China PDH Unit Contract (Sep 11)
 -  What Kind of Salary Potential Do Geote... (Sep 8)


Most Popular Articles

From the Career Center
Jobs that may interest you
Cook
Expertise: Camp Boss|Galleyhand|Ships Deckhand / Deck Crew
Location: Port Fourchon, LA
 
Patent Counsel/Senior Patent Counsel
Expertise: Legal
Location: Richmond, VA
 
US Houston, Tx : Sr Procurement Contracts Specialist
Expertise: Contracts Engineer|Supply Chain Management
Location: Houston, TX
 
search for more jobs

Brent Crude Oil : $55.48/BBL 0.25%
Light Crude Oil : $49.91/BBL 0.04%
Natural Gas : $3.15/MMBtu 4.30%
Updated in last 24 hours