Gulf Keystone Announce Shaikan Milestone

By Simon Kent.

Gulf Keystone have announced that the Shaikan field in the Kurdish region of Iraq (KRI) has now exceeded 15 million barrels of commercial production.

According to the company, this amounts to a daily average production in excess of 40,000 barrels of oil gross. The oil is trucked to the Turkish border before being injected into the pipeline to the port of Ceyhan in Turkey.

In early September, the Kurdish Regional Government announced that they would be making regular payments to IOCs, with Gulf Keystone taking $13 million in the most recent payment, bringing their cash position to $73 million.

(Source: Oil Voice)