It has been agreed between MOL Hungarian Oil and Gas Plc. its Partners Gulf Keystone Petroleum and the Kurdistan Regional Government's Ministry of Natural Resources, to relinquish the Akri-Bijeel Block in the Kurdistan Region of Iraq.
The decision is based on a comprehensive assessment of the block potential. MOL and Gulf Keystone Petroleum, as Contractor Entities, signed the Relinquishment and Termination Agreement of the Production Sharing Contract on 31 December 2015.
As the operator of the Shaikan Block, we continue to focus on this flagship producing asset in cooperation with our partners in the Kurdistan Region.