Latest news with #GKP
Japan Times
04-05-2025
- Japan Times
Manhole cover designs recognized as tourism assets in Japan
Eye-catching manhole covers adorned with unique designs that showcase local tourist spots and specialties have become valuable tourism assets in Japan, drawing many visitors to municipalities. Manholes are installed at over 16 million locations across the country as inspection hatches for sewer pipes. The initiative to create specially designed manhole covers began as a public relations campaign to improve the image of the sewage industry. According to the Ministry of Land, Infrastructure, Transport and Tourism, and other sources, the history of manhole cover designs dates back to the 1980s. At that time, an official from the then-Ministry of Construction proposed creating designs unique to each municipality in an effort to change the negative perception of sewage as foul-smelling and dirty. Subsequently, a collection of drawings showcasing manhole cover designs from various locations was published, helping to increase their recognition among the public. Since 2012, a manhole summit has been held regularly to celebrate the appeal of diverse manhole cover designs. The event has grown into a major attraction, drawing more than 10,000 fans. Collectible cards displaying photographs of manhole covers have played a significant role in highlighting the appeal of intricate designs. In April 2016, GKP, an organization promoting sewage projects through a public-private partnership, started distributing manhole cards in collaboration with local governments. GKP stands for Gesuido Koho Platform, which translates to the sewage public relations platform. As of the end of January this year, a total of 1,114 types of cards had been released, with more than 17.2 million cards issued. The front of each card features a photo of a manhole cover design along with an indication of its installation location, while the back provides information on the origins of the design. The cards are available at tourist information centers and sewage treatment facilities. "You can't get them unless you visit the areas. They serve to connect multiple sightseeing spots into cohesive tourism itineraries," Motoi Nasu from GKP's card production team said. "The high level of artistry (in the designs) is part of Japanese culture, something we are proud of," said Hideto Yamada, a local specialty card producer and one of the creators of the manhole cards. "Safety is key, and the manhole covers are designed with various surface indents and rises to prevent people from slipping," he explained. One of the most popular specially designed manhole cover series is "Pokefuta," which depicts Pokemon characters on the surfaces. Beginning in the city of Ibusuki, Kagoshima Prefecture, in 2018, Pokefuta manhole covers have been installed in a variety of locations across the country. "Manhole covers are something people walk on. The inclusion of Pokemon characters in the designs has improved the image (of manhole covers)," Yamada said. Today, many manhole covers with designs inspired by anime and other characters, including "Gundam," "Godzilla" and "Sailor Moon," have been installed in locations tied to their creators and the original works. Since a large sinkhole, believed to have been caused by a rupture in a deteriorating sewage pipe, engulfed a truck and its driver on a road in Yashio, Saitama Prefecture, in January, concerns have grown over aging infrastructure, including sewage pipes, in many parts of Japan. "It's great if people enjoy collecting (manhole) cards," Nasu said. "But I hope they'll take a moment to consider the sewage system beneath the manhole covers." Since a powerful earthquake caused heavy damage in the northern part of the Noto Peninsula in Ishikawa Prefecture on New Year's Day 2024, "manhole toilets," simple toilet seats and panels installed over manholes to ensure functioning toilets during disasters, have gained renewed attention. "We want to design them in a way that leaves a lasting impression on people, making them aware that '(a manhole toilet) is located there,'" Yamada said.
Iraq Business
03-04-2025
- Business
- Iraq Business
GKP Annual Report 2024
By John Lee. Gulf Keystone Petroleum (GKP) has issued its Annual Report and Accounts for 2024. Click here to download the full report . To browse our comprehensive library of reports on Iraq, click here. (Source: GKP) Tags: featured, GKP, Gulf Keystone Petroleum
Iraq Business
20-03-2025
- Business
- Iraq Business
Gulf Keystone shares rise on Full-Year Results
By John Lee. Gulf Keystone Petroleum (GKP) today announced its results for the full year ended 31 December 2024. Shares were trading up more than two percent at lunchtime. Jon Harris (pictured), Gulf Keystone's Chief Executive Officer, said: "2024 was a year of strong operational and financial delivery for Gulf Keystone. We have sustained our positive momentum into 2025, with year to date gross average production of c.46,400 bopd, strong local sales demand and a disciplined expenditure programme supporting continued free cash flow generation. As a result, we are pleased to announce today the declaration of a $25 million interim dividend as we reiterate our 2025 operational and financial guidance. We remain focused on facilitating a solution to restart oil exports as we continue to seek fair and transparent agreements regarding payment surety, the repayment of receivables and the preservation of current contract economics." Highlights to 31 December 2024 and post reporting period Operational Zero Lost Time or Recordable incidents in 2024, well below the relevant Kurdistan and international peer benchmarks, with safety track record extended to over 790 LTI-free days as at 18 March 2025 2024 gross average production of 40,689 bopd, an 86% increase versus the prior year (2023: 21,891 bopd) Reflects a full year of local sales in 2024 following the impact of the suspension of pipeline exports in March 2023 Despite temporary disruptions to truck availability during regional holidays and elections and the impact of the planned PF-1 shutdown in November 2024, strong local market demand from Q2 2024 onwards enabled the return to production at full capacity in several months Average realised price for 2024 sales of $26.8/bbl, with prices stabilising in a range of c.$27-$28/bbl in H2 2024 2025 year to date (to 18 March 2025) gross average production of c.46,400 bopd: Continued strong local market demand, with realised prices averaging between $27-$29/bbl Shaikan Field estimated reserves The Company estimates gross 2P reserves of 443 MMstb as at 31 December 2024, reflecting the Company's year end 2023 internal estimate of 458 MMstb reduced by gross production of 15 MMstb in 2024 Financial Strong financial performance, with a full year of robust local sales combined with capital and cost discipline underpinning a return to free cash flow generation and the restart of shareholder distributions Adjusted EBITDA increased 52% to $76.1 million in 2024 (2023: $50.1 million) as higher production more than offset the decline in realised prices related to the transition from exports to discounted local sales Revenue increased 22% to $151.2 million (2023: $123.5m) as the increase in 2024 volumes more than offset the 34% decline in average realised price to $26.8/bbl (2023: $40.9/bbl) Gross operating costs per barrel decreased 21% to $4.4/bbl (2023: $5.6/bbl), primarily reflecting higher production and a continued focus on efficient operations Net capital expenditure of $18.3 million (2023: $58.2 million), reflecting the Company's disciplined work programme comprised of safety critical upgrades at PF-1 and production optimisation expenditures 2024 monthly average net capital expenditure, operating costs and other G&A of $6.8 million, below the Company's guidance of c.$7 million Free cash flow generation of $65.4 million, relative to a $13.1 million outflow in 2023, funding the restart of shareholder distributions and preservation of a robust, debt-free balance sheet: $45 million of shareholder distributions in 2024 consisting of $35 million of dividends and $10 million of share purchases completed under the buyback programme launched in May 2024 2024 year-end cash balance of $102 million (31 December 2023: $82 million) Cash balance as at 19 March 2025 of $115 million Outlook 2025 operational and financial guidance reiterated: Gross average production of 40,000 - 45,000 bopd: Subject to local market demand remaining at current strong levels Continues to reflect assumptions regarding the planned PF-2 shut-in, truck availability during regional holidays and field declines Should there be any significant unforeseen disruptions to demand or the restart of pipeline exports, the Company will update its production expectations as appropriate Net capital expenditure of $25-$30 million: c.$20 million: Safety and maintenance upgrades at PF-2, scheduled for Q4 2025 and expected to require the shut-in of the facility for c.3 weeks, similar to PF-1 in 2024 $5-$10 million: Production optimisation programme consisting of low cost, quick payback well interventions Continue to explore range of additional plant initiatives to enhance production, including water handling, with planned reviews later in 2025 based on the Company's liquidity position and operating environment Operating costs of $50-$55 million and other G&A expenses below $10 million $25 million interim dividend announced today, the first semi-annual dividend to be paid under the shareholder distributions framework announced on 8 October 2024 The dividend will be paid on 23 April 2025, based on a record date of 4 April 2025 and ex-dividend date of 3 April 2025 USD and GBP rate per share to be announced ahead of the payment date based on the Company's latest total issued share capital The recent share buyback programme of up to $10 million, expiring 20 March 2025, has not been renewed in light of the interim dividend declaration and the strength of the Company's share price Share buybacks will continue to be considered opportunistically by the Board The Company continues to proactively engage with government stakeholders regarding a solution to enable the restart of Kurdistan crude exports through the Iraq-Türkiye Pipeline: Several recent meetings held with the Kurdistan Regional Government and Federal Government of Iraq The Company remains ready to resume oil exports provided we have agreements on payment surety for future oil exports, the repayment of outstanding receivables and the preservation of current contract economics (Source: GKP)
