The UK’s Gulf Keystone said Monday that the Kurdish Regional Government (KRG) has approved amendments to its four production sharing contracts effective Aug. 1. Under the amendments - altered slightly from proposals made in March after investor Etamic defaulted on its payment obligations - Gulf Keystone is to pay the KRG $40 million for infrastructure support, plus a $12 million termination payment linked to Etamic’s withdrawal, on Aug. 15 (IOD Mar.11,p6).
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