GKP Not Stirring On 36,000 B/D Shaikan 2015 Target

Gulf Keystone Petroleum (GKP) is producing 40,000 b/d from the Shaikan field in Iraq’s Kurdistan region, the maximum capacity attained at the end of 2014. The company, which has struggled to sustain its Kurdistan operation due to the delay in receiving payment for exports via Turkey, says it is hopeful of receiving a promised $26mn from the Kurdistan Regional Government (KRG) for February exports.

Speaking on the company’s in-house television channel, GKP’s CEO, John Gerstenlauer, says in the latest update on operations at Shaikan that output currently is averaging “right at 40,000 b/d,” adding that he looked forward to higher numbers going forward once it completes de-bottlenecking work at the second of two production facilities at Shaikan, one of the largest discoveries in the Kurdistan region. (CONTINUED - 414 WORDS)