KRG: Shaikan Expansion Almost Complete As GKP Finalizes Plans For Next Phase

10 Sep 2021 Issue: 64 / 36 By: Jamie Ingram

Gulf Keystone aims to complete the expansion of Kurdistan’s Shaikan field to 55,000 b/d by year-end. It intends to submit an FDP for further expansion in Q4. Do recent warm words from the KRG’s ‘oil minister’ augur swift approval?

In its first half results released 2 September, London-listed Gulf Keystone Petroleum (GKP) announced that it plans to submit a field development plan (FDP) for the next expansion phase of its Shaikan field in the Kurdistan Region of Iraq. The Shaikan partners (GKP 80%, MOL 20%) are wrapping up expansion of the field’s capacity to 55,000 b/d before the year is out (MEES, 18 June), and now plan to spud an additional well this year to capitalize on newfound momentum.

Like Kurdistan’s Ministry of Natural Resources (MNR), GKP is under new leadership, with CEO Jon Harris having taken the helm in January. Speaking during GKP’s earnings call, Mr Harris said that since taking over “I think we’ve developed a good working relationship with the MNR,” as he appeared broadly optimistic regarding securing prompt FDP approval. (CONTINUED - 858 WORDS)