Gulf Keystone & PCI Surge on Kurdistan Agreement

Source: Bloomberg 11/14/2011, Location: Middle East

Gulf Keystone Petroleum Ltd. (GKP) and Petroceltic International Plc (PCI) led share gains among explorers operating in Kurdistan after the regional government was said to agree on drilling contracts with central Iraqi authorities. Petroceltic rose 8.8 percent to 8.16 pence in London. Gulf Keystone climbed 1.6 percent to 180 pence. DNO International ASA (DNO) advanced 2 percent to 8.245 kroner in Oslo.

Iraqi Prime Minister Nouri Kamil al-Maliki agreed to recognize drilling contracts signed by the semi-autonomous Kurdistan Regional Government, or KRG, after weeks of talks with Kurdish leader Barham Salih, two people with knowledge of the negotiations said last week. The accord followed an Exxon Mobil Corp. (XOM) agreement to explore six blocks in the northern region.

“Until now Baghdad had refused to recognize the contracts that the KRG had signed with oil companies,” Phil Corbett, an analyst at Royal Bank of Scotland Group Plc, wrote in an e- mailed report. The “devil will be in the detail, particularly with respect to the treatment of cost recovery and profit share, but there doesn’t look like anything up front to suggest that the KRG has had to give significant ground.”


Namibia >>  6/28/2022 - Reconnaissance Energy Africa Ltd. (“ReconAfrica”) and its joint venture partner NAMCOR (the state oil company of Namibia) are pleased to announce spud...
Norway >>  6/28/2022 - The Norwegian Petroleum Directorate (NPD) has granted ConocoPhillips Skandinavia a drilling permit for well 25/7-10 in production licence PL782 S.
...


Australia >>  6/27/2022 - On behalf of the EP469 JV, Strike Energy Limited (Strike - STX) offers an update on the appraisal drilling operations for WE3 at the West Erregulla ...
Norway >>  6/27/2022 - The Norwegian Petroleum Directorate (NPD) has granted Equinor Energy AS drilling permit for well 6607/12-5, cf. Section 13 of the Resource Management ...

Tunisia >>  6/24/2022 - Zenith Energy Ltd. (ZENA) provides an update on operational activities in the Robbana concession ("Robbana"), located onshore Tunisia. ...
Australia >>  6/23/2022 - HIGHLIGHTS
• Drilling of 6 th and final well in programme complete
• Glenaras 29 encountered 27 metres of gassy coals
• Highest risk e...


Related Categories: Artificial Lift  Cementing, Stimulation  Directional Drilling  Drilling  Drilling Engineering & Equipment Systems  Enhanced Oil Recovery  General  Logging, Perforating, Testing  Offshore Drilling  Reservoir/Completion Consultants  Workover & Well Services  Workover Rigs/Services 

Related Articles: Artificial Lift  Cementing, Stimulation  Directional Drilling  Drilling  Drilling Engineering & Equipment Systems  Enhanced Oil Recovery  General  Logging, Perforating, Testing  Offshore Drilling  Reservoir/Completion Consultants  Workover & Well Services  Workover Rigs/Services 


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.