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Kurdistan Iraq allocates $ 75 million to repay three oil companies
Monday, 7 September 2015 13:15
Baghdad
announced the Ministry of Natural Resources province of Kurdistan, on Monday, it has allocated $ 75 million in direct crude oil provincial sales revenues for the three international oil companies disrupted dues due to a dispute between Arbil and Baghdad. The ministry said in a statement received Alsumaria News, a copy of " Both of my company DNO and Genel Energy, the operator of the Taq Taq field will receive $ 30 million, while Gulf Keystone will get the operator of the field Sheikhan $ 15 million. "
The ministry added that "the payments will be transferred to the accounts of companies within seven days," pointing out that "there is a need regular payments to allow exporting companies to cover current expenses and plan for further investment in the oil fields, which will in turn production batch and thus help the people of the Kurdistan Region." The Genel Energy Inc. oil-producing and listed on the London Stock Exchange decided on 13 July, to stop all exploration of this year's operations in an attempt to curb spending at a time when waiting for dues for oil sales by about $ 400 million from the Government of the semi-autonomous Kurdistan region in northern Iraq.
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Monday, 7 September 2015 13:15
Baghdad
announced the Ministry of Natural Resources province of Kurdistan, on Monday, it has allocated $ 75 million in direct crude oil provincial sales revenues for the three international oil companies disrupted dues due to a dispute between Arbil and Baghdad. The ministry said in a statement received Alsumaria News, a copy of " Both of my company DNO and Genel Energy, the operator of the Taq Taq field will receive $ 30 million, while Gulf Keystone will get the operator of the field Sheikhan $ 15 million. "
The ministry added that "the payments will be transferred to the accounts of companies within seven days," pointing out that "there is a need regular payments to allow exporting companies to cover current expenses and plan for further investment in the oil fields, which will in turn production batch and thus help the people of the Kurdistan Region." The Genel Energy Inc. oil-producing and listed on the London Stock Exchange decided on 13 July, to stop all exploration of this year's operations in an attempt to curb spending at a time when waiting for dues for oil sales by about $ 400 million from the Government of the semi-autonomous Kurdistan region in northern Iraq.
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