Kurdistan-focused independent Shamaran is poised to become a multi-asset producer in the Kurdistan Region of Iraq, through a deal to acquire TotalEnergies’ 18% stake in the Sarsang license. The acquisition will see the French major quit Kurdistan for the second time, having accidentally returned to the region in 2017 when it acquired the minority Sarsang stake as part of its takeover of Denmark’s Maersk Oil.

Shamaran says that “the Acquisition is highly accretive and transformative to Shamaran as it grows from a single asset company to a multi-field producer and paves the way for future growth opportunities.” (CONTINUED - 900 WORDS)