2014 Half Year Report Management team presentation 28 August 2014
highlights Shaikan commercial production and sales pending projects Financing outlook
H1 2014 highlights Security situation in the Kurdistan Region is stable and Gulf Keystones operations remain secure Shaikan production and export crude oil sales continue Ramp-up of Shaikan production from 10k bopd to over 20k…
highlights Shaikan commercial production and sales pending projects Financing outlook
Shaikan commercial production since July 2013 30000 5,000,000.00 Production up to 21/08/2014 4,500,000.00 25000 4,000,000.00 Production (barrel/day) Cumulative Production (barrels) 3,500,000.00 20000 3,000,000.00 15000…
Shaikan PF-1 and PF-2 PF-1 PF-2 Shaikan 1 Shaikan 3 Shaikan 4 Shaikan Shaikan 2 Shaikan 5 Shaikan 10 Shaikan Well Well Well 7 and 8 Well Well Well 10 and 11 Wells Wells 5
Path to 40,000 ibopd and ibeyond Near-term target of 40,000 bopd Shaikan-10 flowlines have arrived to connect to PF-2 Shaikan-7 and -8 flowlines are arriving to connect to PF-1 De-bottlenecking work to be performed at both PF-1…
highlights Shaikan commercial production and sales pending projects Financing outlook
Priorities versus pending projects Priorities Ramp-up of production to 40,000bopd and maintain oil export sales by truck Tie in Shaikan -7, -8 and -10 wells to existing production facilities; drill Shaikan-11 Establish a steady…
highlights Shaikan commercial production and sales pending projects Financing outlook
H1 2014 Results 10 million H1 2014 H1 2013 FY 2013 Operating revenues and costs Significant ramp-up in production to rates in excess of 20,000 bopd in June 2014 Average gross 12,940 - 1,360 Price realisations at the Shaikan…
Capex schedule 11 2014 2015 Discretionary (USm net to GKP) (SH- Comments (SH-40kbopd) (SH-66kbopd) 40kbopd) Shaikan Completion of SH-7 and PF-1 and tie in of associated PF 1 (including SH-7) 53.0 - - wells Drilling of SH-11,…
highlights Shaikan commercial production and sales pending projects Financing outlook
Outlook Increase Shaikan production capacity to 40,000 bopd through the tie-in of four additional producing wells (Shaikan-7, -8 , -10 and -11) Conclude discussions with the MNR on the establishment of a regular and predictable…
2014 Half Year Report Management team presentation 28 August 2014