UK's Gulf Keystone Petroleum gains on half-year production rise

Gulf Keystone Petroleum

28/08/2025 09:09

** Shares of Kurdish oil producer Gulf Keystone Petroleum GKP.L up 4.1% at 188.4p
** Co's interim gross average production increased 12% to 44,100 barrels of oil per day (bopd)

** Restarted production and ramped up towards full capacity at Shaikan Field after a temporary shut-in related to security concerns

** Commissioning of water handling facilities at Production Facility-2 at Shaikan Field is expected in early 2027

** PF-2 expected to add incremental production above the

anticipated field baseline once operational

** Declared interim dividend of $25 million

** GKP cuts 2025 gross average production of 40,000 - 42,000  bopd vs. previous guidance of 40,000 - 45,000 bopd, primarily due to disruptions at Shaikan Field
** Including session moves, stock up 30.5% YTD

(Reporting by Subiksha S in Bengaluru)

((Subiksha.S@thomsonreuters.com))