London-listed independent operator and producer Gulf Keystone Petroleum said on Monday that it would resume investing in the Shaikan oil field in Iraq’s Kurdistan Region, aiming to boost production to 55,000 bpd in the second half of 2019, from just over 30,000 bpd now. Gulf Keystone, operator of the Shaikan oil field, with its partner, Hungary’s MOL, reached an agreement with the natural resources ministry of the Kurdistan Regional Government about the investment project at Shaikan, which will require a total gross investment of between US$200 million and US$230 million, of which Gulf Keystone’s net share of the funding will be between US$160 million and US$184 million. After achieving the 55,000 bpd target in the second half of 2019, Gulf Keystone and its joint venture partner will target a production increase to 75,000 bpd and then to 110,000 bpd. Gulf Keystone and MOL plan to submit a revised field […]