Gulf Keystone Sees Interest in Akri-Bijeel

Gulf Keystone CEO Todd Kozel (pictured) has told Reuters that the Kurdistan-focused oil explorer has interest for its 20 percent stake in the Arki-Bijeel block in the semi-autonomous region, but any sale was still in the preliminary stages:

"We've got a lot of interested parties, but we have not identified a purchaser. "We haven't gone to the bidding process yet. It's in the data room process, data gathering and identifying interest."

The block in Kurdistan is estimated to hold around 2.4 billion barrels of oil and is operated by Hungary's MOL.

"Kurdistan is the hottest play in town in the oil business," Kozel said.

Kozel said Gulf Keystone was already fully funded to build a pipeline and would be "very well funded" for their budget with the asset sale they plan, but he said there were no plans to sell the company.

"Gulf Keystone is not for sale," he said. "We have not been approached by any company making an offer."

(Source: Reuters)

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