Gulf Keystone started operating in the Republic of Algeria in 2001 acquiring exploration and appraisal rights over six blocks and two producing fields totalling approximately 17,600 square kilometres.
In July 2009, the Company announced its intention to undertake a gradual strategic exit from Algeria in order to focus on its extensive operations in the Kurdistan Region of Iraq.
In early 2010 Gulf Keystone relinquished Blocks 108 and 128b under the Ben Guecha Permit. In February 2012, an agreement reached in 2010 between Gulf Keystone and BG Group PLC, the Operator providing for the transfer of the Company’s interests in the Hassi Ba Hamou (HBH) Permit to the Operator, was approved by the Algerian government and Sonatrach, Algeria's national oil company.
Gulf Keystone is currently evaluating a number of options with regard to its remaining interests in Block 126a (GKN and GKS oilfields under the Ferkane Permit) in order to conclude the Company’s gradual strategic exit from Algeria.
