REG - Gulf Keystone Petrol - Update on Shaikan Field production

Gulf Keystone PetroleumAnnouncement

31/03/2023 07:00

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RNS Number : 8560U  Gulf Keystone Petroleum Ltd.  31 March 2023

 

31 March 2023

 

 

Gulf Keystone Petroleum Ltd. (LSE: GKP)

("Gulf Keystone", "GKP" or "the Company")

 

Update on Shaikan Field production

 

Gulf Keystone is providing an update on its announcement dated 27 March 2023
regarding the shut-in of the Iraq-Turkey pipeline on 25 March 2023 and
suspension of exports. GKP announces that it expects to shut-in production
processed at Production Facility 1 ("PF-1") today, while production flowing
into Production Facility 2 ("PF-2") will continue into storage tanks at
reduced rates for around another two weeks before also being shut-in. The
combined storage capacity at PF-1 and PF-2 is approximately 150,000 barrels.

 

The Company understands that discussions between the Kurdistan Regional
Government and the Iraqi Ministry of Oil are ongoing and continues to believe
that the suspension of exports will be temporary.

 

GKP is closely monitoring the situation and will provide further updates to
the market, as appropriate.

 

Enquiries:

 Gulf Keystone:                           +44 (0) 20 7514 1400
 Aaron Clark, Head of Investor Relations  aclark@gulfkeystone.com (mailto:aclark@gulfkeystone.com)

 FTI Consulting                           +44 (0) 20 3727 1000
 Ben Brewerton                            GKP@fticonsulting.com (mailto:GKP@fticonsulting.com)

 Nick Hennis

 

or visit: www.gulfkeystone.com (http://www.gulfkeystone.com)

 

Notes to Editors:

 

Gulf Keystone Petroleum Ltd. (LSE: GKP) is a leading independent operator and
producer in the Kurdistan Region of Iraq. Further information on Gulf Keystone
is available on its website www.gulfkeystone.com
(http://www.gulfkeystone.com/)

 

Disclaimer

 

This announcement contains certain forward-looking statements that are subject
to the risks and uncertainties associated with the oil & gas exploration
and production business.  These statements are made by the Company and its
Directors in good faith based on the information available to them up to the
time of their approval of this announcement but such statements should be
treated with caution due to inherent risks and uncertainties, including both
economic and business factors and/or factors beyond the Company's control or
within the Company's control where, for example, the Company decides on a
change of plan or strategy.  This announcement has been prepared solely to
provide additional information to shareholders to assess the Group's
strategies and the potential for those strategies to succeed.  This
announcement should not be relied on by any other party or for any other
purpose.

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