OIL AND gas company Gulf Keystone Petroleum stated yesterday that it was on track to achieve production of 40,000 barrels of oil per day (bopd) at its Shaikan operation in Kurdistan by the end of 2014.
The site is currently averaging production of 23,000 bopd. The company also welcomed last week’s announcement that the Kurdistan Regional Government’s (KRG) ministry of natural resources was to begin repayments to producers for exports.
John Gerstenlauer, Gulf Keystone’s chief executive, commented: “Gulf Keystone’s production operations and export oil sales have continued uninterrupted in 2014. As we stand by the Kurdistan Region and its people, we welcome the KRG’s commitment to putting in place a regular payment cycle for oil exports.