Tag Archives | Akri-Bijeel

MOL Relinquishes Akri-Bijeel Licence

By John Lee. MOL Hungarian Oil and Gas Plc has announced that, in agreement with its partners Gulf Keystone Petroleum (GKP) and the Kurdistan Regional Government’s Ministry of Natural Resources, it has decided to relinquish the Akri-Bijeel Block in the Kurdistan Region of Iraq. The company said its decision was based on a comprehensive assessment […]

Wood Group Completes Kurdistan Oil Project

By John Lee. Wood Group Intetech (WG Intetech) has successfully completed a six-month project for Hungary’s MOL Group, which saw WG Intetech develop a detailed design for an acid gas reinjection well on MOL’s Akri-Bijeel field in Iraq. The scope of the agreement included well design and comprehensive materials selection for all well components. Dr […]

UK Consul Visits GKP’s Shaikan Facility

UK Consul General Angus McKee visited Gulf Keystone‘s production facility at the Shaikan oil field on Wednesday, where he was given a tour by company officials. He viewed the production processes, control room and loading of tankers for onward transportation. Following the visit, McKee said: “Kurdistan Region’s oil industry is a real success story, and […]

Shares in GKP Jump Again on Iraq Update

By John Lee. Shares in Gulf Keystone Petroleum (GKP) gained another 19 percent on Thursday morning, following approval of its Field Development Plan (FDP) for Akri-Bijeel, in which it holds a 20 percent working interest. The FDP is based on these two discovery areas, i.e. Bijell area and the Bakrman area. The development will be done […]

Gulf Keystone to Raise $250m Debt

Gulf Keystone has announced that it has mandated Deutsche Bank and Pareto Securities to arrange a series of fixed income investor meetings in the US, Europe and Asia commencing 20 March 2014. A debt offering of up to US$250 million in accordance with Reg S/144A is expected to follow, subject to market conditions. On 13 […]

Gulf Keystone Update

Gulf Keystone Petroleum (GKP) has this morning provided an Operational and Corporate update, and released a third party audit of the Company’s reserves, contingent resources and prospective resources for its petroleum interests in the Kurdistan Region of Iraq. Summary The Company continues to maintain current stable production and sales levels of approximately 10,000 barrels of […]

GKP Shares Up Following Update

By John Lee. Shares in Gulf Keystone Petroleum (GKP) were up 4 percent this morning after the company provided an operational and corporate update: Significant progress has been made since the Field Development Plan (“FDP”) for the Shaikan field was approved in June 2013. In July 2013 the Company commenced commercial production, marking Gulf Keystone’s […]

Akri Bijeel Oil Block Declared ‘Commercial’

By John Lee. MOL Plc has informed the market that Kalegran Ltd. (a 100% subsidiary of MOL), as has officially declared the Akri Bijeel Block to be ‘commercial’, based on the discoveries made at the Bijell-1 well (pictured) in Jurassic horizons and Bakrman-1 well in Triassic horizon. Kalegran is the Operator of the Block on […]

GKP set for Growth

Gulf Keystone has provided an update on its four blocks in the Kurdistan Region of Iraq, including the world class discoveries at Shaikan and Sheikh Adi, as well as Akri-Bijeel and Ber Bahr: Background With the Shaikan commercial discovery alone, Gulf Keystone has one of the world’s largest onshore conventional oil & gas developments with […]

New Oil Find in Iraqi Kurdistan

Gulf Keystone notes today’s update by MOL Hungarian Oil and Gas Plc., the operator of the Akri-Bijeel Block in the Kurdistan Region of Iraq (in which Gulf Keystone has a 20 per cent working interest), on its extensive exploration and appraisal programme. Bakrman-1 Exploration Well Discovery Bakrman-1, the first exploration well to target the Bakrman […]

GKP Shares Fall on Fundraising for Shaikan

By John Lee. Gulf Keystone has announced the launch of an offering of senior unsecured convertible bonds due October 2017 in a principal amount of USD$ 200 million, which may be increased in the event the Company exercises in full its increase option of up to USD$ 25 million (the “Increase Option”). Shares in the […]

Gulf Keystone, MOL, Spud Gulak-1 Exploration Well

By John Lee. Gulf Keystone notes today’s announcement by MOL Hungarian Oil and Gas Plc., the operator regarding the spudding of the Gulak-1 exploration well on the Akri-Bijeel block in the Kurdistan Region of Iraq. Gulak-1 is the fourth exploration well to be drilled on the Akri-Bijeel block and the first exploration well to target […]