The company will transfer its right, title and interest in the Hassi Ba Hamou permit to the operator BG Group and Sonatrach.
This development is in line with Gulf Keystone’s plan to undertake a gradual strategic exit from Algeria in order to focus on its operations in the Kurdistan Region of Iraq.
Gulf Keystone executive chairman and CEO Todd Kozel said the company is firmly focused on its operations spanning four exploration blocks in the Kurdistan Region, including the Shaikan discovery, where the 2012/13 high impact drilling campaign is currently underway following excellent results achieved in 2011.
