Updates

Gulf Keystone - Awarded two new blocks in Algeria

May 2005

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Gulf Keystone has been awarded licences for two new blocks from the Algerian sixth licensing round and is the only small e&p company to win any licences, with other awards going to BP, Royal Dutch Shell and BHP Billition. Both of the blocks (129 and 317b1) have already experienced at least one discovery by Gulf's partner, Sonatrach, and the latter has also established several exploration leads. Earlier, Gulf Keystone announced that its rig has been successfully assembled, tested and mobilised and is about to start its drilling program in North-East Algeria, beginning with its GKS-3 well, before moving onto GKS-2, the original discovery well on this structure which is estimated to contain nearly 30m barrels. Me ...

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