Gulf Keystone Petroleum
|Gulf Keystone Petroleum|
Gulf Keystone Petroleum (GKP) is an oil and gas exploration and production company operating in the Kurdistan region of Iraq. It is listed on the main market of the London Stock Exchange. The company is registered in Bermuda with branch offices in Erbil, Kurdistan, Algiers, Algeria, and London, UK. Through its subsidiary, Gulf Keystone Petroleum International, the company owns production sharing contracts for four exploration blocks in Iraqi Kurdistan.
Shaikan is an oilfield in Northern Iraq, in which GKP currently holds 75% of a production sharing agreement with the Kurdish Regional Government. It is notably one of the largest Super Giant oilfields discovered in the last 50 years.
Shaikan was declared a commercial discovery on 1 August 2012 following a five-well appraisal program. Initially independent estimates place the gross oil-in-place (OIP) volume at 13.7 billion barrels (P50) potentially making it one of the largest oilfields discovered in Iraqi Kurdistan.
Gulf Keystone Petroleum holds substantial interests in the Sheikh Adi, Ber Bahr and Akri-Bijeel blocks, which are adjacent to the Shaikan block. Four separate discoveries have been made in these blocks, in addition to the discovery at Shaikan. Each of these discoveries had been described by GKP as a "company maker in its own right".