London-headquartered Gulf Keystone (GKP) pulled in a $26.6mn payment this week for its work at Iraqi Kurdistan’s 32,000 b/d Shaikan heavy oil field (80% op, Hungary’s MOL 20%). The payment – which is the second largest since GKP settled its dispute with the KRG in June (MEES, 15 June) – further demonstrates Erbil’s ability to make timely payments to foreign firms operating in the controversial region.

GKP can certainly use the cash: the firm plans to spend...