GKP set for Growth

Shaikan PF-1 and PF-2

Following approval of the Shaikan FDP, Gulf Keystone will be ready to step up its production operations through the commissioning of two new production facilities at Shaikan ("PF-1 and PF-2").  The Company is planning to complete mechanical assembly and connection works on the Shaikan PF-1 by the end of Q2 2013, which will be followed by a period of start-up, commissioning and ramping-up of production to a target of 20,000 bopd, increasing to a capacity of 40,000 bopd in the coming months following the commissioning of the Shaikan PF-2.

Delivery of equipment modules for the Shaikan PF-2 is progressing and the construction of the Shaikan PF-2 site has been completed.  The assembly works will commence following the completion of the Shaikan PF-1.

Shaikan-7 and Shaikan-10

The Company plans to spud Shaikan-7, the first deep exploration well, targeting the mid to lower Triassic and, potentially, Permian horizons, and Shaikan-10, the first development well, in May and June 2013 respectively.

Akri-Bijeel Block

Extensive exploration and appraisal programme is ongoing on the Akri-Bijeel block. The Bakrman-1 exploration well testing programme is nearing completion and the Bijell-2 and Bijell-7 wells are being drilled to appraise further the Bijell discovery. The construction of an Extended Well Test facility for the Bijell discovery is nearing completion.

Ber Bahr Block

Re-testing of the Ber Bahr-1 exploration well continues.

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