Shaikan Investment Plan Boosts Kurdish Oil Sector Hopes

摘要

UK independent Gulf Keystone has agreed to an investment plan to raise output at its Shaikan oil field in Iraqi Kurdistan to 55,000 barrels per day in 2019, boosting the hopes of the beleaguered Kurdish energy sector and reflecting the Kurdistan Regional Government’s (KRG) improved finances. A lack of capital spending has held back the development of the heavy oil field, one of the semiautonomous region’s largest. But a more favorable environment has now enabled Gulf Keystone to begin reversing the decline in Shaikan’s output, which stood at around 32,000 b/d in the first quarter and which the London-listed firm eventually hopes will reach 110,000 b/d.