Cumulative production at Shaikan, in the Kurdistan region of Iraq, reached 25 million barrels, Gulf Keystone said Friday. Under the terms of the Shaikan production sharing contract, the company owes the bonus to the government's Ministry of Natural Resources (MNR).
"The company is currently in discussions with the MNR regarding the payment and offset mechanism of the production bonus available under the Shaikan production sharing contract," Gulf Keystone said in a statement.
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