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Gulf Keystone ramps up gross production at Shaikan field in Iraq
StockMarketWire.com
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Oil and gas company Gulf Keystone said it had resumed growth plans to ramp-up gross production towards 55,000 barrels of oil per day at its Shaikan operations in Iraq.
'Workstreams have already begun, and we are targeting to restart the drilling of SH-13 in Q3 2021, subject to managing the continuing impact of COVID-19 on the movement of people, services and equipment,' the company said.
Guidance for 2021 average gross production remained unchanged at 40,000 to 44,000 bopd, with the increase in gross production towards 55,000 bopd expected to occur in Q1 2022.
Remaining capex required to deliver the 55,000 bopd programme was estimated to be $40-to-45 million net, resulting in total 2021 capex of $55-65 million net.
Story provided by StockMarketWire.com
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