The Covid-19 pandemic interrupted the development plans of a number of IOCs operating in Iraqi Kurdistan last year. But many regathered momentum in the second half of the year and are now reaping the benefits. Two Kurdistan-focused firms this week announced at the SpareBank 1 Markets Energy Conference that they achieved record monthly production in January.
London-listed Gulf Keystone operates the Shaikan field (80%). CFO Ian Weatherdon told the event that “2021 started really well for us and we had our highest ever monthly production in January at over 44,000 b/d.” Mr Weatherdon adds that the firm plans to resume investing to expand capacity from 50,000 b/d to 55,000 b/d and “we have a clear roadmap to do this.” Looking ahead, “we have a vision over time to step up our production in phases ultimately to 110,000 b/d.” (CONTINUED - 274 WORDS)