Gulf Keystone Prepares for Potential Production Restart

Gulf Keystone Petroleum Ltd. has provided an update ahead of its 2026 AGM. The company, an independent operator in Kurdistan, has experienced a shutdown of the Shaikan Field since February due to regional security concerns. Despite this, Gulf Keystone has cut monthly expenses by 50% whilst maintaining operational readiness for a swift return to full production. Key capital projects have been slowed, focusing only on essential ones like the water handling facility at PF-2.

As of June, the firm's cash reserves stand at $66 million. Gulf Keystone continues negotiating to ensure secure production resumption and sustainable export sales at international prices. The company remains hopeful given recent regional security improvements, including a framework agreement between the U.S. and Iran. An update will follow once production volumes stabilize. The 2026 AGM is set to proceed via webcast.