Welcome to the Gulf Keystone Petroleum Limited Q4 2023 Results Conference Call, scheduled for March 21, 2024, at 6:00 AM ET. The key speakers for this call are Jon Harris, the CEO, and Ian Weatherdon, the CFO. Joining them are John Hulme, the COO; Gabriel Papineau-Legris, the CCO; and Aaron Clark, the Head of Investor Relations.
During this presentation, we will cover the operational and financial performance of Gulf Keystone in 2023 and discuss the outlook for 2024. Following the presentation, we will open the line for any questions you may have.
Please refer to Slide 2 for the disclaimer, which contains important legal information. The presentation slides can also be viewed on our website.
In 2023, Gulf Keystone faced challenges due to the suspension of Kurdistan exports and delays in payments from the Kurdistan Regional Government. Despite these challenges, we took proactive steps to reduce costs and transition our operations to local sales, which helped protect the business and improve our liquidity position.
We have seen an increase in local sales demand since mid-January 2024, allowing us to ramp up production and achieve a current gross production potential of between 43,000 to 45,000 barrels of oil per day. We continue to focus on maintaining our strong performance and adapting to the local market dynamics.
Looking ahead, we believe there is significant value to be unlocked for our shareholders and stakeholders once exports resume and regular payments are restored. We remain committed to actively engaging with government stakeholders to find a solution that benefits all parties involved.
Thank you for joining us today, and we look forward to your questions.
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