Kurdistan oil export deal extended to January 2027, Gulf Keystone says

BAGHDAD, Iraq — British oil company Gulf Keystone Petroleum announced that the temporary oil export agreement between foreign operators in the Kurdistan Region, the Iraqi federal government and the Kurdistan Regional Government has been extended by six months. According to the company's report, the deal will remain in force until January 2027. Gulf Keystone also said it has restarted field operations at the Shaikan oil field in Dohuk. In its report, the company said production is in a rapid ramp-up phase and has reached an average of 40,000 barrels per day. The same report noted that the company's average output had fallen to around 14,600 barrels per day in the first half of 2026. Gulf Keystone said production has been gradually recovering following the resumption of development and production work. The company did not provide further details on the terms of the extended agreement or the timeline for further production increases.