Due to escalating security tensions in the region, Gulf Keystone Petroleum has halted operations at one of Duhok’s largest oil fields as a precautionary measure.

Reasons for the Production Halt

Gulf Keystone Petroleum, an independent oil operator in the Kurdistan Region, announced that it has temporarily suspended oil production at the Sheikhan field. The company noted that this decision was made solely to ensure safety and serves as a precautionary response to the evolving security situation in the region.

Status of Facilities and Company Finances

Gulf Keystone emphasized that, to date, its facilities and financial assets have suffered no damage or impact. This step comes after several other international oil companies in the region took similar stances, scaling back operations to protect their staff and facilities.

Production Capacity of the Sheikhan Field

Prior to the decision to suspend operations, the Sheikhan field in Duhok Governorate was operating at a high production level. According to company data, the field's recent average gross production exceeded 45,000 barrels of oil per day.

Monitoring the Situation

The company stated that its teams are closely monitoring security developments on the ground. Gulf Keystone pledged to provide further updates and details to investors and the public as appropriate, depending on how the situation evolves.