Middle East Economic Survey


No 43


Gulf Keystone Eyes 500,000 B/D Shaikan Output

Gulf Keystone Petroleum is aiming to produce 100,000-200,000 b/d from its Shaikan block in the Kurdistan Regional Government (KRG) area of Northern Iraq by 2015, thereafter ramping up quickly to 500,000 b/d by end-2016 as part of a $7bn development. Shaikan has huge reserves. Gulf Keystone expects soon to announce a raise in estimates for Shaikan oil-in-place volumes from 4.9bn barrels to 5.9bn...