Business
2015 Results Announcement
2015 Results Announcement.
About this update from Gulf Keystone Petroleum Limited
[{"type":"text","content":"\n \nRNS Number : 3687S Gulf Keystone Petroleum Ltd. 17 March 2016 \n\nNot for release, publication or distribution, directly or indirectly, in whole or in part in or into the United States or any jurisdiction other than the United Kingdom and Bermuda where to do so would constitute a contravention of the relevant laws or regulations of such jurisdiction. This announcement (and the information contained herein) does not contain or constitute an offer to sell or the solicitation of an offer to purchase, nor shall there be any sale of securities in any jurisdiction where such offer, solicitation or sale would constitute a contravention of the relevant laws or regulations of such jurisdiction.\n \n \n \n \n17 March 2016\n \nGulf Keystone Petroleum Ltd. (LSE: GKP)\n(\"Gulf Keystone\" or \"the Company\")\n \n2015 Results Announcement\n \nGulf Keystone Petroleum, a leading independent operator and producer in the Kurdistan Region of Iraq, today announces its results for the year ended 31 December 2015.\nHighlights to 31 December 2015 and post reporting period\nOperational\n· Gulf Keystone's operations in the Kurdistan Region remained safe and secure throughout 2015. The Company achieved a milestone of one million man hours without a lost time injury in early March 2016 \n· 2015 gross production of 11.1 million barrels of oil, an increase of 71% on 2014, an average of 30,500 barrels of oil per day (\"bopd\"), with no formation water\n· The maximum sustained production achieved at Shaikan was 39,773 bopd in September 2015. Intermittent restrictions around offtake and export infrastructure availability resulted in some periods of reduced production throughout the year\n· Access to the Kirkuk-Ceyhan export pipeline achieved in July 2015 securing improved netbacks, reduced transportation costs and significantly lower HSSE exposure \n· Shaikan production for the period from 1 January to 16 February 2016 averaged 37,080 bopd before exports through the Kirkuk-Ceyhan export pipeline were temporarily suspended until 11 March 2016, when the Company's crude oil export operations resumed and continue at c. 37,000-39,000 bopd today \n...