We dont need another book on the Gulf Keystone Saga because we already have one ....
"The Prize: The Epic Quest for Oil , Money and Power. By Daniel Yergin
The same Daniel Yergin who used to be an advisor to GULF KEYSTONE.
Just a coincidence tho ....right ?
LOL |
https://x.com/GoodnightCharl1/status/1888609340006838320?t=fqw7S6CgmD_l93Ql-hMQBw&s=19 |
Just a wee diddy. |
He doesn't even know what SKAT is 🙄 |
"Am scared to ask, but who/what is "Wee Jamie"?"
BroadfordBay. He's apparently a Scot and his friend and even more clueless fellow troll Oilman63 called him jamie.
Wee jamie spent a lot of time trying unsuccessfully to convince us that Bigdog "is a useful contributor to the board", which tells you all you need to know.
The three of them spent the last 16 years telling us that Kurdistan and GKP are basket cases and that Shaikan is nothing more than a hyped up scam devised by Todd Kozel to enrich himself and diddle his wife out of a divorce settlement bla bla bla.
One day somebody will write a book about all this and you'll find it on the bookshop shelves marked "Fiction" because nobody except us that have lived through it will believe a word of it. |
Am scared to ask, but whowhat is "Wee Jamie"? |
Wee Jamie....all the way from the Isle of Skye. The kilted donkey 🥱 |
 Probably posted already but just in case...
The Iraqi Parliament's Legal Finance Committee has confirmed that no fundamental changes have been made to the budget law, saying the amendments are related to Article 12 on the cost of oil extraction in the Kurdistan Region.
Sunday, February 9, 2025, Mustafa al-Karrawi, a member of the Finance Committee of the Iraqi Parliament, said: "The amendments sent by the prime minister and the Council of Ministers were limited to Article (12) related to the cost of oil extraction in the Kurdistan Region.
"The amendment is scheduled to come into force soon, allowing the resumption of oil exports from the Kurdistan Region through SOMO to the Turkish port," he said. "According to the recent amendments, there are no fundamental changes Budget to reactivate several previous specialties and content.
Last Sunday, February 2, 2025, the Iraqi parliament met in the presence of 176 members to vote on several bills and amendments to several laws, the most important of which was the amendment to the budget law.
The meeting voted to amend the federal budget for the years (2023, 2024 and 2025), thus, according to the Kurdistan Workers Party (PKK) MPs, there is no excuse for not exporting oil from the Kurdistan Region. |
"458 millions barrels is ultra conservative mind. Next year we may see upgrades to this alongside a revised field development plan."
That's only what's in the small volume of the field that was assessed for the 40k bpd Phase zero development plan. The rest of it is irrelevant to current reporting as it will not be developed under Phase zero.
We could have ten times that much, plus the gas.
And this from the FYR of 23/3/23 just before the pipeline was closed and all field development ceased.
"We continue to develop the Jurassic reservoir and advance towards approval of the FDP."
So it sounds as though the next FDP had already been submitted and was awaiting approval. |
458 millions barrels is ultra conservative mind. Next year we may see upgrades to this alongside a revised field development plan. |
True JBG . JG said they'd be able to drain the entire field from 32 drill pads using directional drilling . |
"Shaikan is the prize. Everyone knows."
Not everybody, Broadford hasn't a clue.
Broadford 15th August last year:- "From DNO: "...To prepare for investments across its portfolio, INCLUDING ACQUISITIONS, the Company issued a new USD 400 million five-year bond..." (CAPS are mine). DNO coming back - maybe this time offering a bit more, 50p/bbl for proven reserves?"
So.
The going rate for proven reserves seems to be around $1billion or more per 100 million barrels, or $10 a barrel.
But wee jamie thinks that Shaikan's proven reserves are worth not $10 a barrel but 50p, or 62 cents.
So he's out by a factor of at least 16.
And the following from 11 days ago works out at $15 a barrel:-
Tullow - "Independently audited 2P reserves at year end 2024 of 164.5 mmboe valued at c.$2.5 billion."
GKP are currently reporting 458 million barrels of 2p reserves.
So using the same metric would value ours at $6.96 billion or £5.57 billion.
Which is £25.66 per share. |
Shaikan is the prize. Everyone knows. |
https://x.com/GoodnightCharl1/status/1888609340006838320?t=fqw7S6CgmD_l93Ql-hMQBw&s=19 |
https://channel8.com/english/31217 Iraqi President Abdul Latif Jamal Rashid has initiated a lawsuit against Prime Minister Mohammed Shia al-Sudani and Finance Minister Taif Sami over salaries. The trial is scheduled for Wednesday, February 12.Hawre Tofiq, Director General of the Iraqi Presidency's Office of Relations and International Organizations, announced at a news conference that President Rashid has filed the lawsuit in the Federal Court against Prime Minister Mohammed Shia al-Sudani and Finance Minister Taif Sami.Tofiq stated that the lawsuit includes several key points. The first request is for the Federal Court to issue an urgent order to ensure the continuous payment of salaries in the Kurdistan Region without interruption."We also demand that technical matters, such as budget measure review, details, and monitoring, which are administrative and technical procedures, should not be used as a reason to delay salaries," he added.Tofiq further mentioned that the court had asked the Parliament to amend Article 12, paragraph (C) of the federal budget law, which pertains to the cost of producing a barrel of oil for the Kurdistan Region. Fortunately, the Parliament has recently made this amendment.He emphasized that the core of their demands is to require the Federal Ministry of Finance to pay the salaries of all employees in the Kurdistan Region for both the past months and all future months without interruption, as it is a constitutional right.Tofiq said that the trial is set for Wednesday, February 12, and added, "We are awaiting the Federal Court to make its constitutional decision." |
https://www.basnews.com/en/babat/874768 ERBIL - Iraq's parliamentary Finance Committee confirmed on Sunday that no fundamental changes have been made to the budget law, with recent amendments focusing solely on Article 12, which pertains to the cost of oil extraction in the Kurdistan Region.Mustafa al-Karawi, a member of the Finance Committee, said the amendments sent by the prime minister and the Council of Ministers were limited to adjusting the financial provisions related to oil production costs in the Kurdistan Region."The amendment is expected to take effect soon, enabling the resumption of oil exports from the region's fields through SOMO to the Turkish port of Ceyhan," Karawi said. He added that no new employment provisions were included in the amendments, and only pre-approved financial allocations within the budget framework could be activated by the government.The Iraqi parliament convened last Sunday with 176 members present to vote on several bills and amendments, including changes to Article 12 of the budget law's second paragraph (c). The revised article addresses increased oil production costs in the Kurdistan Region and the re-export of its crude.The amendments come as Iraq seeks to resolve ongoing disputes over oil revenue-sharing between Baghdad and Erbil, which have led to the suspension of Kurdistan's independent oil exports since March 2023. |
https://x.com/thenewregion/status/1888575904529383899 The Iraqi parliament's Legal Finance committee confirmed on Sunday that the amendment to the Federal Budget law included no fundamental changes and was limited to Article 12 of the law only, regarding extraction costs for the Kurdistan Region's oil, adding that the amendment will enter into force soon, allowing the Kurdistan Region's oil exports through the SOMO company state media |
Well we were told 16 companies had cast their eyes on Gkp’s data room.
You can bet they are rubbing hands together now we have legal contracts and pipeline about to open.
I can see it all getting very exciting very soon.
Gla |
Remember its 60 days for ALL the Kurdish oil companies (or the APIKUR ones ). It might not be 60 days for GKP. |
From July last year
Kurdistan and China: An Evolving Relationship
Economy
Janghis Awakalay
July 28, 2024
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The relationship between the Kurdistan Region of Iraq (KRI), particularly the Kurdistan Regional Government (KRG), and China has been evolving significantly in recent years. This relationship, largely driven by economic interests, reflects broader geopolitical shifts and the growing influence of China in the Middle East. This article unpacks several key developments that highlight how China has increased its engagement with Iraq and the KRI.
Support during the pandemic: The Covid-19 pandemic played a crucial role in strengthening China’s presence in the Middle East, including Iraq and the KRI. China supplied vaccines and medical supplies to the region, garnering significant appreciation from regional officials and the public during the pandemic. This aid came at a time when concerns were heightened about a potential U.S. withdrawal from Afghanistan and northeastern Syria. Furthermore, China’s mediation efforts between Middle Eastern rivals Saudi Arabia and Iran, and other activities in the region have prompted closer relations with China.
Diversification beyond oil: Traditionally, China’s relationship with Iraq centered around oil. However, this dynamic has evolved. To be sure, the KRI’s rich oil reserves have attracted significant Chinese investment due to China’s global strategy to secure energy resources. In 2009, Sinopec acquired Addax Petroleum, which held substantial oil assets in the KRI. Similarly, the China National Petroleum Corporation has been involved in exploration and production activities in the region.
Yet, at the same time, Chinese companies are now securing contracts in various sectors, including infrastructure and development projects in the KRI. For instance, the KRG recently signed a memorandum of understanding with PowerChina International Group to construct four dams in the region. Chinese companies often outpace Western firms due to their flexibility and state-owned status, allowing them to offer more attractive deals. One notable project is the $5 billion Happy City residential and leisure development in Erbil, signaling China’s commitment to expanding its footprint in the region beyond the oil sector. Additionally, there are plans to build a Consulate General building on a 30,000-square meter plot of land. |
"the biggest in the industry taking control in the region"
Why would Tony Hayward think "the biggest in the industry" such as BP Exxon and Chevron would want to take control of Kurdistan's oil & gas fields.
Tony Hayward was the CEO of both BP and Genel, BP know EXACTLY what's there.
"Genel CEO Sees Merger Shakeout Among Kurdistan Oil Producers.
The number of oil producers in Kurdistan will slump by three-quarters with the biggest in the industry taking control in the region, according to Genel Energy CEO Tony Hayward.
It's likely that we'll end up with, perhaps, five or six of the largest companies operating, with Genel, Exxon, Chevron ending up as major operators, Hayward said in a Nov. 21 interview during the Atlantic Council conference in Istanbul. It's what happens in most hydrocarbon provinces." |
They all know how big Shaiklan(Greater) is and BP's arrival at Kirkuk out of the blue is very significant imo. |
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