Shaikan Oil Production Temporarily Suspended; GKP Shares Fall

By John Lee.

Gulf Keystone Petroleum (GKP) has announced that production operations at its Shaikan oil field in the Kurdistan Region of Iraq have been temporarily shut in as a safety precaution, citing the developing regional security environment.

The company said its assets have not been impacted and that the latest gross production figure was above 45,000 barrels of oil per day (bopd) before the suspension.

Shares in GKP were trading down 6.6 percent on Monday morning.

(Source: Gulf Keystone Petroleum)

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