Gulf Keystone Petroleum's 2025 Operational and Financial Update

Gulf Keystone Petroleum Ltd., a key operator in the Kurdistan Region of Iraq, shared insights ahead of its 2025 AGM. Current year production has been robust, averaging about 44,900 barrels of oil per day (bopd), bolstered by local demand. An interim dividend of $25 million was distributed in April, reflecting the company's ongoing profitability.

Despite geopolitical tensions between Israel and Iran, operations at the Shaikan Field remain unaffected. Gulf Keystone is actively pursuing discussions with government stakeholders regarding the resumption of crude exports via the Iraq-Türkiye Pipeline. Financial stability is underscored by a debt-free balance sheet and $100 million in cash.

Looking forward, 2025 production is expected to stay within 40,000–45,000 bopd. Capital spending remains disciplined, with safety upgrades planned at PF-2. The next dividend review will coincide with the Half Year Results in August.