The UK-based player will scale back the number of planned wells at its prize assets and is aiming for a lower per-barrel development capital expenditure.
An updated independent third-party audit of the company’s reserves, contingent resources and prospective resources in Kurdistan has led to the change in thinking.
At Shaikan the audit has let to “greater certainty” in Gulf Keystone’s ability to develop the proven and probable reserves, which have now shot up 114% from 299 million barrels gross to 639 million barrels.
The
