Tag Archives | Arbat

ExxonMobil pulled out of Kurdistan "Because of Iranian Influence"

By Dilshad Abdullah for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News.  International oil companies pull out of Kurdistan Exxon Mobil has pulled out of three of the six exploration blocks it operated in the Kurdistan Region. The American oil giant withdrew […]

ShaMaran to Relinquish Working Stakes in Kurdish PSCs

ShaMaran Petroleum has signed a final binding agreement with the Kurdistan Regional Government (“KRG”) to relinquish to the KRG the 60% working interests currently held in each of the Arbat and Pulkhana Production Sharing Contracts (“PSC”). Under the terms of the agreement the PSC for each of the Pulkhana and Arbat blocks is terminated whereby […]

ShaMaran Shares Slump on Suspended Operations

ShaMaran Petroleum shares fell by 33% on Thursday following this update on its Pulkhana and Arbat blocks in Kurdistan: ShaMaran Petroleum is in the process of examining options to re-focus its asset base in Kurdistan and as a consequence has agreed with the Kurdistan Regional Government to suspend operations on both the Pulkhana and Arbat […]

Industrial Town to be Built in Sulaimaniya

A 3,000 acre industrial town is to be built in the Arbat district of Sulaymaniyah Governorate, according to a report from AKnews. Sulaymaniyah Investment Commission met with a number of private companies this week to discuss the master plan for "The Industrial Town of Arbat District", which will involve an initial investment of $3 billion […]

ShaMaran Issues 3Q Results

ShaMaran Petroleum has announced its financial and operating results for the three and nine months ended September 30, 2011. Highlights A major oil discovery in the Atrush Block was announced by the Company on April 13, 2011. The Atrush 1 well flowed at rates totalling over 6,393 bopd of 26.5 API oil from three tests […]

ShaMaran Announces Amendment to Pulkhana and Arbat PSC

ShaMaran Petroleum Corp. (TSX VENTURE:SNM) has announced that the Company has entered into an agreement with the Kurdistan Regional Government of Iraq ("KRG") to amend the Pulkhana Block 10 and the Arbat Block Production Sharing Agreements ("PSC"). The amendments relieve the Company of its contractual requirement to allot 150 million common shares of ShaMaran for the […]