Kozel heads for Gulf Keystone exit

Gulf Keystone Petroleum is looking for a new chief executive after long-time boss Todd Kozel decided to call it a day in the hot seat.

Kozel will give up the role at the explorer’s upcoming annual general meeting on 17 July, the London-listed player revealed on Wednesday.

It is envisaged that he will remain with the company as an executive director, however.

Gulf Keystone said a number of candidates for the top job have already been identified.

Kozel was a co-founder of Gulf Keystone, having also founded Pittsburgh-based independent Texas Keystone in 1988. He served as president of the latter from 1995 to 2004 and has been a director since 1988.

He also founded US oilfield services player Falcon Drilling in 2001 and remains on the board.

Gulf Keystone is a major player in the Kurdistan Regional Government region of Iraq where it operates the Shaikan and Sheikh Adi blocks, while it also has interests in the Akri-Bijeel and Ber Bahr blocks.

The company is still in the process of exiting Algeria, where it entered in 2001.

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