Gulf Keystone wins lawsuit related to an oil field in Kurdistan

“The judge refused on Tuesday the allegations of Excalibur’s company of its right in a 30 percent stake in the oil fields of the company in which its activities are concentrated in Kurdistan, ending the legal disputes that lasted for about three years,” According to the news reported by Reuters , briefed by "Shafaq News”.

It is believed that Gulf Keystone may be a target for a takeover process by a major oil company that wants a foothold in Kurdistan, but doubts raised by the legal proceedings that had been considered as a potential obstacle to any takeover.

The most important assets of the company in Kurdistan are Shaikhan field, which its reserves estimated at about 12 billion barrels of oil, making it one of the largest discoveries in recent years.

The company aims to produce 250 thousand barrels from the field by 2018.