Gulf Keystone to advance operations in Kurdistan

16th Jun 2011 12:31

Oil explorer Gulf Keystone Petroleum reiterated its focus on the operations in the Kurdistan region of Iraq, but shares plunged more than 4% ahead of its annual general meeting.Gulf Keystone also said, "We are firmly focused on adding further oil-in-place volumes in all four blocks in the Kurdistan region of Iraq."The AIM-listed company said three of its wells are underway on the Shaikan and Sheikh Adi blocks, a second exploration well is being drilled in partnership with MOL on the Akri-Bijeel block, and the first exploration well is expected to be drilled on the Ber Bahr block in partnership with Genel later in 2011.In May, the company said it was preparing to export up to 5,000 barrels of oil per a day (bopd) from its extended well test facility at Shaikan, at the request of the Ministry of Natural Resources of the Kurdistan Regional Government. (KRG).AR