Investors need not pay much attention to these first-half figures from Kurdistan-focused oil explorer Gulf Keystone Petroleum - instead, more recent developments are of more importance.
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Gulf Keystone Petroleum (GKP) continues to make significant progress advancing its giant-sized oil assets in the autonomous Kurdistan region of Iraq towards field development. In August, the company submitted a declaration of commercial discovery to the relevant authorities, meaning it has 180 days to submit a field development plan. Assuming a speedy approval process, this will allow GKP to begin large-scale staged development in 2013.