ShaMaran Petroleum Corp. is a Canadian independent oil development and exploration company with a 27.6% interest in the Atrush Block production sharing contract. The Atrush Block is located in the Kurdistan region of northern Iraq.
Phase 1 of the Field Development Plan for the Atrush Block has been completed with first oil in July, 2017. Over 50 million barrels of oil have so far been produced as at September, 2021. Production levels for 2021 are expected to range from 39,000 bopd to 44,000 bopd. Further phases of development are planned and will be defined based on production data, appraisal information and economic circumstances.
In addition, the Company has announced the acquisition of a TotalEnergies’ affiliate that holds an 18% non-operated participating interest in the adjacent Sarsang Block in Kurdistan. This acquisition is expected to closed early in 2022.
ShaMaran is listed on the TSX Venture Exchange and the Nasdaq First North Growth Market under the symbol “SNM”.
Arctic Securities AS (Swedish branch) is the Company’s Certified Advisor on Nasdaq First North Growth Market, +46 844 68 61 00, firstname.lastname@example.org