Gulf Keystone is pleased to confirm that Kalegran Ltd., a 100% subsidiary of MOL Plc. and Operator of the Akri-Bijeel Block in the Kurdistan Region of Iraq on behalf of the Contractor (Kalegran Ltd. with 80 per cent working interest and Gulf Keystone Petroleum International Limited with 20 per cent working interest), has declared the Akri-Bijeel Block commercial.
Commercial discovery declaration and acceleration of work program on the Akri-Bijeel Block
MOL Plc. hereby informs the capital market participants that Kalegran Ltd. (a 100% subsidiary of MOL), as Operator on behalf of the Contractor (comprising Kalegran and Gulf Keystone Petroleum International Limited) officially declared the Akri Bijeel Block commercial based on the discoveries made by Bijell-1 well in Jurassic horizons and Bakrman-1 well in Triassic horizon. MOL is accelerating its work program through employing additional rigs and plans to submit the Field Development Plan for the whole block by the end of 2014.