Gulf Keystone Petroleum (LSE:GKP) has restarted crude oil exports from Kurdistan through the Iraq-Türkiye Pipeline, following agreements with both the Kurdistan Regional Government and the Federal Government of Iraq. The resumption of exports is expected to improve the company’s cash flow by enabling sales at international prices and support long-term investment in Kurdistan’s oil and gas reserves.
The agreements adhere to Iraq’s 2023–2025 Budget Law, ensuring compensation for production costs during an interim period, with a reconciliation to full Production Sharing Contract entitlements anticipated subsequently.
About Gulf Keystone Petroleum
Gulf Keystone Petroleum Ltd. is an independent operator and producer in the Kurdistan Region of Iraq, focused on oil and gas exploration and production. The company aims to optimize resource development while navigating geopolitical and operational challenges.
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