Gulf Keystone Petroleum Reports Strong 2024 Performance

Gulf Keystone Petroleum Ltd, an independent operator in Kurdistan, announced a robust performance for 2024, highlighting a 52% increase in adjusted EBITDA to $76.1 million. Despite a decline in average realised prices, production rose by 86% to 40,689 bopd, supported by local sales after the suspension of pipeline exports in 2023.

A $25 million interim dividend has been declared for 2025, alongside reiteration of operational and financial guidance. The Company maintains its focus on resuming exports, emphasizing the importance of secure agreements for oil market stability.

Operational safety was a highlight, achieving zero Lost Time Incidents in 2024. Financially, the company saw revenue climb 22% to $151.2 million while managing costs efficiently. Gulf Keystone looks forward to enhancing production and shareholder value through strategic initiatives and continued stakeholder engagement.