Gulf Keystone (GKP) announced this week that disappointing output from two recently completed wells means that the firm has fallen short of its plan to expand capacity to 55,000 b/d at its Shaikan field in Iraqi Kurdistan. The London-listed firm had intended to reach 55,000 b/d this month, but while it successfully brought the last two wells of the expansion program online in December “productivity has been below expectations.”

CEO Jon Harris had warned in December that “we have experienced operational challenges with SH-13 and SH-14,” adding that “subject to well productivity, we are now targeting to increase gross production towards 55,000 b/d in January.” (CONTINUED - 555 WORDS)