15th Sep 2015 13:38
LONDON (Alliance News) - Gulf Keystone Petroleum Ltd on Tuesday said production from the Shaikan field in the Kurdistan region of Iraq has now surpassed 15 million barrels, with current daily production from the field at 40,000 barrels of oil gross.
The company said that in July, at the request of the Kurdistan Regional Government's Ministry of Natural Resources, it started trucking Shaikan crude to Fyshkhabour on the Turkish border for injection into the export pipeline to Ceyhan in Turkey.
It is currently in the process of transferring all crude oil deliveries to the export pipeline, in anticipation of it securing regular payments from the Kurdistan government.
Shares in Gulf Keystone were up 4.2% to 29.96 pence following the news on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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