13th Sep 2018 10:03
LONDON (Alliance News) - Gulf Keystone Petroleum Ltd on Thursday confirmed it received USD17.7 million for crude oil sales during June from its Shaikan field.
The funds, paid by the Kurdistan regional government in Iraq, were part of a gross payment of USD22.6 million.
They compare to the USD21.2 million net to Gulf Keystone received during May.
On Monday, Gulf Keystone had said it is on track to boost production from Shaikan to 55,000 barrels of oil a day, with rates for 2018 guided to be between 27,000 and 32,000 barrels a day.
At the same time, it reported a rise in pretax profit to USD26.5 million for the six months to June from just USD619,000 a year prior, with revenue climbing to USD116.2 million from USD78.3 million.
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