Presentation

Gulf Keystone is an independent E&P company focused on the Kurdish Region of Iraq. The company is listed on the London Stock Exchange. As of Q2’21, the company had cash balance of USD 177m and a USD 100m bond maturing in 2023.

The company’s main asset is the Shaikan heavy oil field, which is considered one of the largest developments in KRI. As of February 2021, estimated total 2P reserves was 505 mill boe. The 2021 production guidance was recently increased to 42-44,000 bbl/day and the expansion towards 55,000 bbl/day remains on track. With infill drilling the increased production level can be maintained until PSC expiry in 2043. The Shaikan field also holds a large potential for further growth with a long-term production potential of above 100,000 boe/day.