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(Alliance News) - Gulf Keystone Petroleum Ltd on Tuesday said it and its partners received a gross payment of USD9.6 million from the Kurdistan regional government for crude oil sales from the Shaikan asset in October.
The Iraq-focused oil producer said it received the payment net to Gulf Keystone was USD7.5 million.
The USD9.6 million gross payment was a notch lower than the USD9.9 million received for Shaikan oil sales in September.
The Shaikan oil field, about 60 kilometres from the city of Erbil, is 80% owned by Gulf Keystone and it has been in production since July 2013.
Gulf Keystone shares were 1.1% higher at 93.00 pence each in London on Tuesday morning.
By Eric Cunha; ericcunha@alliancenews.com
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