Kurdistan authorizes $75m September IOC payment
For the first time in over eight months, the KRG is making a pipeline export payment to producing companies.
A worker checks the valve gears of pipes linked to oil tanks at Turkey's Mediterranean port of Ceyhan, which is run by state-owned pipeline company Botas. (UMIT BEKTAS/Reuters)
ERBIL - The Kurdistan region’s Ministry of Natural Resources (MNR) will soon make its first payment of 2015 to oil exporting companies.
“MNR approved the allocation of $75 million of revenue from the Kurdistan Regional Government’s direct crude oil sales in Ceyhan as payment on account to TTOPCO as operators of the Taq Taq block ($30m), DNO as operators of Tawke ($30m), and Gulf Keystone Petroleum as operators of Shaikhan ($15m),” the ministry said in a statement released Monday.
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