Our early belief in the Kurdistan success story has been confirmed with an impressive number of oil companies, including oil majors, entering this region. Today Kurdistan remains one of the most attractive upstream destinations in the world.
We have been present in the Kurdistan region since 2007 and work closely with the Ministry of Natural Resources to achieve our joint goal of aiding the expansion of the region for benefits today and for future generations. The Company is a key contributor in meeting the Kurdistan Regional Government’s oil production targets and, in turn, to the development of the region as a whole. In a statement released 1 February 2016 the KRG said it acknowledges and appreciates the economic contribution made by the producing IOCs and their success in raising the volume of oil export from the Kurdistan region.
There is no doubt that Gulf Keystone's consistent drilling acheivements in the Kurdistan Region of Iraq has significantly de-risked further exploration drilling in the region. Moreover, the clear vision of regional authorities with regard to development of the energy sector cannot be underestimated.