Gulf Keystone Petroleum said third-party estimates show recoverable oil reserves in the Kurdish north of Iraq are at least twice as much as initially expected. The company, which focuses predominately on acreage in the semiautonomous Kurdish region in northern Iraq, said third-party surveys were conducted in the Shaikan oil basin. “With cumulative production to date of over 15 million barrels, the company benefits from a vastly increased dataset and a far greater understanding of the reservoir,” Chief Executive Officer Jon Ferrier said in a statement. Third-party assessments show proved reserves in the Shaikan reserve area at between 198 million to 306 million barrels, 55 percent more than originally estimated. Proved plus probable reserves increased by 114 percent to as much […]