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GKP says still owed $178 mln by Iraqi Kurdistan

Reuters - UK Focus

LONDON, March 17 (Reuters) - Gulf Keystone Petroleum said on Thursday it was still owed $178 million by the Iraqi Kurdistan Regional Government for oil exports and costs related to the Shaikan oil field.

The oil producer reported a 2015 loss of $135 million versus a loss of $248 million a year earlier.

Gulf Keystone said output from its Shaikan field may start declining this year if it fails to find $71-88 million to invest in the field and if its partners and the government do not approve the plan quickly. (Reporting by Karolin Schaps; editing by Jason Neely)