More than a year after the deal was first announced, Canada’s Shamaran has completed its purchase of TotalEnergies’ 18% stake in Iraqi Kurdistan’s Sarsang field. In a 14 September announcement, Shamaran CEO Adel Chaouch hailed the “momentous day” which has “transformed Shamaran from being a single asset company into one owning a portfolio of stakes in three world class producing oil fields.”

The new shareholders at Sarsang are US independent HKN (62%op), Shamaran (18%) and the KRG (20%). (CONTINUED - 824 WORDS)