MOL on December 2 said that its partner Gulf Keystone Petroleum Limited (GKP) received an initial payment of $15 mln from the Kurdistan Regional Government (KRG) for crude oil exports. The revenue settlement between the MOL Group and GKP is expected to take place in accordance with the terms of the Production Sharing Agreement (PSA), the December 2 statement added.
Hungarian oil and gas company MOL on November 13 said it would begin production at a well in the Akri-Bijeel block in Kurdistan, Iraq, by year-end.
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