Tag Archives | Atrush

Atrush Exceeds 50m Barrels Production

By John Lee. ShaMaran Petroleum has announce that the Atrush block in Iraqi Kurdistan has surpassed the cumulative oil production milestone of 50 million barrels since its first oil in July 2017. Dr. Adel Chaouch, President and Chief Executive Officer of ShaMaran, commented: "This significant operational achievement is noteworthy as the production milestone has been […]

Shamaran Buys Up Bonds

By John Lee. ShaMaran Petroleum has reported in connection with the Company's 12% senior unsecured bonds due 2023 (ISIN: NO 001082645.6) that the Company has purchased Bonds in the market at commercially attractive rates. As a result, Bonds in the principal amount of $4.95 million have been retired.  The Company's Bond amortization payment due in […]

ShaMaran achieves 40m Barrels Production at Atrush

ShaMaran Petroleum has announced that the January 2021 interest payment due on its 12% senior unsecured bonds due 2023 (ISIN: NO 001082645.6) has been timely made to all Bondholders. In addition, ShaMaran said the Atrush field total cumulative crude oil production has exceeded 40 million barrels. The Atrush field is located 85 km northwest of […]

Shamaran Bondholders appoint Advisers

By John Lee. According to Bloomberg Law, a group of bondholders of Shamaran Petroleum has reportedly appointed restructuring specialists Akin Gump Strauss Hauer & Feld LLP to advise on ongoing debt talks. ShaMaran Petroleum said last week that that it continues to examine alternatives to address a breach of financial covenant and liquidity shortfall, and […]

Atrush Field performing "Exceptionally Well"

By John Lee. ShaMaran Petroleum has reported that the Atrush Field continues to perform "exceptionally well". Average production for the month of November was 43,360 bopd. The CK-15 well is now online and wells currently are undergoing normal-course maintenance. The Company reiterates its Atrush 2019 average daily production guidance of between 30,000 and 35,000 bopd […]

ShaMaran Exceeds 20,000,000 Barrels at Atrush

ShaMaran Petroleum has reported that the Atrush oil field total production has exceeded 20,000,000 barrels. ShaMaran President and Chief Executive Officer Dr. Adel Chaouch said: "This cumulative production milestone demonstrates Atrush's upward path to higher production and has been attained ahead of target.  We look forward to further future production achievements and operational improvements in […]

Atrush Production exceeds 1m Barrels in July

Abu Dhabi National Energy Company PJSC (TAQA) has announced that its subsidiary, TAQA Atrush B.V. (TAQA Iraq), has set a new production record from the Atrush oil field in the Kurdistan Region of Iraq. For the first time since the field commenced production operations in July 2017, the total monthly production volume exceeded 1 million […]

Atrush Block drives Production Gains at TAQA

By John Lee. Abu Dhabi National Energy Company PJSC (TAQA) has announced that the group’s oil and gas business delivered strong performance with an 11% increase in revenue, mainly driven by increased production volumes from its assets in Europe and Iraq. In its financial results and operational highlights for the six-month period ending June 30, […]

ShaMaran Completes Acquisition of Atrush Stake

By John Lee. ShaMaran Petroleum has announced the completion of its acquisition of an additional 7.5% participating interest in the Atrush Block [from Marathon Oil], previously announced on April 3, 2019, bringing ShaMaran’s total interest in Atrush up to 27.6%. ShaMaran also announces that Atrush has been producing at approximately 32,000 barrels of oil per […]

ShaMaran acquires Larger Stake in Atrush

ShaMaran Petroleum Corporation refers to the agreement announced on June 4, 2018 whereby the Company’s wholly owned subsidiary, General Exploration Partners, Inc. (“GEP”), agreed in a sale and purchase agreement (the “SPA”) with Marathon Oil KDV B.V. (“MOKDV”) ,a wholly owned subsidiary of Marathon Oil Corporation (“Marathon”), to acquire from MOKDV a further 15% working […]

Atrush Production Update

ShaMaran Petroleum reports that operations in the Atrush field in Kurdistan are continuing in a normal, safe and secure manner. Atrush is currently producing at approximately 27 thousand barrels of oil per day ("bopd") and exports are continuing via the Kurdistan Export Pipeline system. Atrush exports for the month of December averaged 26,163 bopd and […]