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
 -  Scottish Government Reveals New Subsea... (Jan 20)
 -  SOFF Secures Services Contract for Jan... (Jan 20)
 -  NPD Grants Lundin Permit for Appraisal... (Jan 20)
 -  Lion: AMT-1 Well Abandoned After Stuck... (Jan 20)
 -  Unite: Workers 'Deeply Unhappy' About ... (Jan 20)


Most Popular Articles

From the Career Center
Jobs that may interest you
Attorney I
Expertise: Contracts Administration|Legal
Location: Houston, 
 
US Houston: Sr. EDI Logistics Specialist (Electronic Data Interchange)
Expertise: Logistics Management
Location: Houston, TX
 
Community Relations Manager Job
Expertise: Legal|PR / Corporate Communications|Project Management
Location: Red Wing, MN
 
search for more jobs

Brent Crude Oil : $55.49/BBL 2.45%
Light Crude Oil : $52.42/BBL 2.04%
Natural Gas : $3.2/MMBtu 5.04%
Updated in last 24 hours