Tag Archives | ShaMaran Petroleum

Atrush Production Ramping Up

By John Lee. The Abu Dhabi National Energy Company PJSC (TAQA) has confirmed that production from the Atrush Block in the Kurdistan Region of Iraq is expected to ramp up towards the 30,000-barrel-per-day project capacity (gross) in 2017. Oil production at Atrush started in July. TAQA is the operator of Atrush and has a 39.9% […]

ShaMaran Shares Gain on Results

Shares in ShaMaran Petroleum gained 5 percent on Thursday after the company announced its financial and operating results for year ended December 31, 2016. Unless otherwise stated all currency amounts indicated as “$” in this news release are expressed in thousands of United States dollars. Highlights and accomplishments included: Construction of the 30,000 bopd Atrush […]

ShaMaran Arranges new Fundraising

ShaMaran Petroleum has announced that it that it has successfully completed the book build for the equity issue (the “Private Placement”) announced on January 19, 2017, on a private placement basis, of common shares of the Company (“Common Shares”). The pricing of the Private Placement was determined during the book-building process to be CAD 0.10 […]

ShaMaran Announces 3Q Results

ShaMaran Petroleum has announced its financial and operating results for the nine months ended September 30, 2016. Unless otherwise stated all currency amounts indicated as “$” in this news release are expressed in thousands of United States dollars. On November 7, 2016 the Assignment, Novation and Fourth Amendment Agreement to the PSC (the “4th PSC […]

ShaMaran Loses $253m in 2015

ShaMaran Petroleum has announced its financial and operating results for the year ended December 31, 2015. Unless otherwise stated all currency amounts indicated as “$” in this news release are expressed in thousands of United States dollars. Construction of the 30,000 bopd Atrush Phase 1 Production Facility (“Production Facility”) is in progress. Substantially all equipment […]

ShaMaran, TAQA, in Dispute over Atrush

Canadian-based ShaMaran Petroleum and TAQA, the Abu Dhabi National Energy Company, are in dispute regarding the Atrush block in Iraqi Kurdistan. In a statement to the markets on Monday, ShaMaran said that its wholly owned subsidiary, General Exploration Partners (GEP), has received a Default Notice from TAQA Atrush B.V., the Operator of the Atrush Block, […]

ShaMaran Announces Atrush Results

By John Lee. ShaMaran Petroleum has announced the successful testing and completion of the Chiya Khere-8 (“CK-8”) development well in the Atrush Block in the Kurdistan Region of Iraq. The CK-8 development well was drilled in the third quarter of 2014. The well was re-entered in July 2015 and two well tests (“DST”) using an […]

ShaMaran Updates on Reserves

By John Lee. ShaMaran Petroleum reports updates to estimated reserves and contingent resources for the Atrush block as of December 31, 2014. The reserves and contingent resources estimates were provided by McDaniel & Associates Consultants Ltd. (“McDaniel”), the Company’s independent qualified resources evaluator, and were prepared in accordance with standards set out in the Canadian […]

ShaMaran Restarts Drilling at Atrush

By John Lee. ShaMaran Petroleum has announced the resumption of drilling operations on the Atrush block in the Kurdistan Region of Iraq. Drilling operations at the Chiya Khere-8 development well were suspended for a total of 21 days by TAQA (the Abu Dhabi National Energy Company), operator of the Atrush Block, as a precautionary measure, […]

ShaMaran Announces Results

By John Lee. ShaMaran Petroleum has announced its financial and operating results for the three and nine months ended September 30, 2013. (Unless otherwise stated all currency amounts indicated as “$” in this news release are expressed in thousands of United States dollars): Highlights The Company announced on October 30, 2013 that its USD 150 […]

KRG Approves Development of Atrush

By John Lee. ShaMaran Petroleum has announced that the Atrush partners have received approval from the Kurdistan Regional Government (KRG) for the first phase in the development of the Atrush Block. The TAQA-operated Block, located 85 km northwest of Erbil, is expected to initially produce approximately 30,000 barrels of gross oil per day (bpd) with […]

ShaMaran Petroleum Announces Results

By John Lee. ShaMaran Petroleum has announce its financial and operating results for the three and six months ended June 30, 2013. (Unless otherwise stated all currency amounts indicated as “$” in this news release are expressed in thousands of United States dollars). Highlights A Field Development Plan for the Atrush Block was submitted for […]