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British oil exploration and development company Gulf Keystone has issued a statement denying the recent press speculation that it is in discussions with Indian Oil Corporation and Oil India joint venture about a takeover of the Company.
The statement also said that the company is contemplating a placing of common shares to raise additional funds for its Kurdistan development programmes.
Gulf Keystone was recently awarded “significant” interests in two production sharing contracts (PSCs) by the Kurdistan Regional Government (KRG).
The contracts cover the exploration, development and production of hydrocarbon resources in the Sheikh Adi and Ber Bahr blocks in Iraqi Kurdistan.
