Gulf Keystone Petroleum (GKP) said the gross proved and probable reserves at its Shaikan oil field in the Kurdistan Region of Iraq is estimated to be 639 million bbl. The estimate is more than double the previous gross estimate of 299 million bbl. Discovered in 2009, the field is considered to have the potential to produce 100,000 B/D. The independent report findings could help GKP lower its field development costs.
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