Business
Report on Payments to Governments
Report on Payments to Governments.
About this update from Gulf Keystone Petroleum Limited
[{"type":"text","content":"\n \nRNS Number : 5205J Gulf Keystone Petroleum Ltd. 12 September 2016 \n\n \nNot for release, publication or distribution, directly or indirectly, in whole or in part in or into the United States or any jurisdiction other than the United Kingdom and Bermuda where to do so would constitute a contravention of the relevant laws or regulations of such jurisdiction. This announcement (and the information contained herein) does not contain or constitute an offer to sell or the solicitation of an offer to purchase, nor shall there be any sale of securities in any jurisdiction where such offer, solicitation or sale would constitute a contravention of the relevant laws or regulations of such jurisdiction.\n \n \n \n12 September 2016\n \nGulf Keystone Petroleum Ltd. (LSE: GKP)\n(\"Gulf Keystone\", \"GKP\" or \"the Company\")\n \nReport on Payments to Governments for the year 2015\n \nIntroduction\n \nThis report sets out details of the payments made to governments by Gulf Keystone Petroleum Ltd and its subsidiary undertakings ('Gulf Keystone') for the year ended 31 December 2015 as required under the Disclosure and Transparency Rules of the UK Financial Conduct Authority (the 'DTRs') and in accordance with our interpretation of the draft Industry Guidance issued for the UK's Report on Payments to Government Regulations 2014, as amended in December 2015 (the 'Regulations'). The DTRs require companies in the UK and operating in the extractive sector to publicly disclose payments to governments in the countries where they undertake exploration, prospection, development and extraction of oil and natural gas deposits or other materials.\n \nThis report is available to download on the Gulf Keystone website: http://www.gulfkeystone.com/investor-centre/presentations-and-reports. \n \nBasis for preparation\n \nTotal payments below £86,000 made to a government are excluded from this report as permitted under the Regulations.\n \nAll of the payments made in relation to the Shaikan Production Sharing Contract ('PSC') in the Kurdistan Region of Iraq ('KRI') have been made to the Ministry of Natural Resources of the Kurdistan Regional Government ('KRG').\n \nEstimated production entitlements\n \nProduction entitlements are the host government's share of production during...