Gulf Keystone Petroleum is on track to produce 40,000 barrels of oil per day (bopd) by the end of the year at its Shaikan facilities in the Kurdistan region of Iraq.
The company said its production levels are stable, averaging 23,000 bopd from three wells at PF-1 and two wells at PF-2.
Civil works are also ongoing to connect the Shaikan-7 and -8 wells to PF-1.
The trenching work has been completed on the 15km connection between the Shaikan -10 well and PF-2 with flowlines currently being laid.
John Gerstenlauer, Gulf Keystone’s chief executive officer, said: “Gulf Keystone’s production operations and export oil sales have continued uninterrupted in 2014.
“All current production is being exported by truck and these exports are set to increase in the coming months as we are nearing our production target of 40,000 bopd.
“As we stand by the Kurdistan Region and its people, we welcome the KRG’s commitment to putting in place a regular payment cycle for oil exports from the region.
“As our production increases, we look forward to receiving our full contractual entitlement.”
Gulf said crude oil exports by truck have continued uninterrupted since November last year.
Production is currently being exported and 19 tanker cargoes totalling 4.7 million gross barrels of Shaikan crude oil have been sold to the international market since the Shaikan crude oil export sales began from the port of Dortyol in January 2014.
In August, the company announced it was sending staff back to Iraqi Kurdistan after US airstrikes eased the threat from Islamic State militants that prompted a mass evacuation of expatriate oil workers.