Gulf Keystone ‘For Sale’ Amid Kurdish Cash-Flow Woes

Gulf Keystone, operator of Iraqi Kurdistan’s key Shaikan field, says that it is looking to sell either the company itself or its Kurdish assets. A lack of payments for its KRG crude exports has left it with a severe cash crunch.

Gulf Keystone Petroleum (GKP) on 25 February announced that it is in talks with a number of parties for a possible sale of assets, or the company itself, the UK-listed firm says. GKP has been in negotiations with Iraq’s Kurdistan Regional Government (KRG) with the aim of regularizing the payments it receives for the export of crude from the Shaikan field, one of the KRG’s largest discoveries, which it operates. (CONTINUED - 1700 WORDS)