Iraq’s Gulf Keystone Receives Shaikan Crude Payments

Iraq’s Gulf Keystone Receives Shaikan Crude Payments

Gulf Keystone Petroleum has received payment for the sale of Shaikan crude, according to Pipeline Oil and Gas Magazine.

The oil and gas exploration and production (E&P) company operating in the Kurdistan region of Iraq received net payments of around $10.7 million from the Kurdistan Regional Government for crude oil sold during February, Gulf Keystone Petroleum said in a statement.

The Shaikan block, operated by Gulf Keystone, is located in the north-west of Erbil and covers an area of 283 km² with a current production capacity of around 40,000 barrels per day (b/d) of oil with significant untapped development potential.


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