KRG Hit By Economic Strains And Falling Output At Key Field

Iraq’s Kurdistan Regional Government has pledged to make contractual payments to international oil companies active in the region within 10 working days of the end of the month. But the first payment for April oil receipts was made nine days late, and was only a partial payment. A second payment was made the following day, but as MEES went to press, there remain payments outstanding. It gets worse for the KRG as the payment details expose a production fall at a key export field.

Anglo-Turkish firm Genel announced partial receipt of payment for its Taq Taq field on 26 May. It was followed on 27 May by DNO confirming partial payment for its Tawke field, and by Gulf KeystonePetroleum for its Shaikan field.


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