ERBIL, Kurdistan Region of Iraq - The UK-listed Gulf Keystone announced Monday it has suspended production at the Kurdistan Region’s Sheikhan oil field, citing the “developing regional security environment.” 

In a statement, the company said it has “temporarily shut-in production operations as a safety precaution due to the developing regional security environment.”

“The Company’s approach is in line with other international oil companies operating in the region. The Company’s assets have not been impacted and latest gross production from the Sheikhan Field was above 45,000 bopd,” it said. 

The announcement comes two days after US-based HKN Energy also announced that it is suspending all operations in Iraq and the Kurdistan Region due to “escalating tensions” in the region.

The Kurdistan Region has come under renewed attacks by Iran and its proxies in Iraq since hostilities resumed between Tehran and Washington.

“The Company is closely monitoring the situation and will provide further updates as appropriate,” Gulf Keystone said. 

Erbil came under a spate of drone attacks on Friday night, with the US-led global coalition downing at least eight drones across the city’s skies, mere days after another eight drones targeted the city late Wednesday.

Pro-Iran Iraqi militias similarly targeted the Region's energy infrastructure and military bases extensively during Iran’s previous conflicts with the US.